Mazars completes Prolog sale
21 January 2019
Joint Administrators Rebecca Dacre and Simon Chandler of Mazars LLP have today announced the sale of three of the six current Promotional Logistics Limited (t/a Prolog) sites to Prolog Fulfilment Limited. The sale was effected as of Friday 18 January, 2019.
Prolog entered administration in November 2018, and has continued trading at full capacity. The acquisition was led by former Prolog management team Neil Daniells and Nick Hoare, and saves over 330 jobs. Prolog Fulfilment Limited will operate from three sites: two in Sherwood Park near Annesley, North Nottinghamshire, and one in Sudbury, Essex. Prolog Fulfilment will operate in the e-fulfilment and returns market sectors.
Under the sale agreement, Prolog Fulfilment Limited will operate the three remaining sites in Sherwood Park on behalf of the Joint Administrators as they seek to secure deals for the remainder of the business.
The Prolog Fulfilment Limited management team commented: “We are really excited by the opportunities ahead to build a company renowned for flexibility, with a can-do attitude for providing solutions that support our clients’ growth in this difficult market place, whilst being an employer of choice for our local workforce”.
Joint Administrator Rebecca Dacre said: “I’d like to thank all of Prolog’s employees for their huge dedication despite challenges and uncertainty, as well as the support of the company’s customers who have remained loyal throughout this process. We are working hard to secure the future of the business and to protect as many jobs as possible in the coming weeks”.