Prolog creditors will likely receive little back, warns administrator


 

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 […]