Trade creditors of Nottinghamshire warehouse and logistics provider Prolog are set to receive just 4p in the pound, after administrators found there were insufficient funds to pay them in full. In its latest progress report, Mazars said that even the collapsed operator’s secured creditor, Lloyds Bank, would suffer “a significant shortfall under its security”. Prolog, registered at Companies House as Promotional Logistics, was put into administration in November 2018. However, 32 staff that did not transfer via TUPE to new […]
Trade creditors of Prolog may only receive a tiny fraction of the estimated £10m owed to them after the company entered administration and was then sold off in parts.
Prolog, a Nottinghamshire warehousing, distribution and logistics provider, has been put up for sale after entering administration as expected.
The administrator attempting to salvage Prolog said it is in discussions with more than 70 interested parties to try and agree a sale of the Nottinghamshire warehouse and distribution firm.