Logistics firm sold for just £1
Date published: 17 May 2018
Logistics firm Canute has been sold to Almtone for just £1, according to reports.
Motor Transport says the firm, which recently had a contract terminated with Tetrosyl, has been sold to the holding company for just £1, saving 800 jobs.
Canute’s accounts are overdue according to Companies House, but had a turnover of £106m for the year ending 31 July 2016.
Almtone, which shares director Glenn Marshall with Canute, was registered in September 2017.
The freight transport firm will continue to trade as Canute Group.
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