Following the delivery of sanitation facilities for Arena Church in Nottingham, Midlands contractor, G F Tomlinson has transformed another disused space to help vulnerable city residents who need it most.
As part of the company’s commitment to delivering social value in the region and building on its long-standing relationship with the church, the contractor has provided ventilation upgrades and enhancement works for the basement area of the central city shelter in Western Street, Hockley.
The contractor partnered with Amptron Electrical Services to provide upgraded ventilation systems which allow mechanical air change movements, to help with the lack of natural air flow, due to the location within the building. The G F Tomlinson Client Care team also carried out redecoration works to the space.
These enhancements have enabled the basement area to become a more comfortable space within the church, providing vulnerable Nottingham residents with shelter, sanitation facilities and hot refreshments.
New bollards were also installed to car parking bays, enabling the church to rent out the spaces to local businesses in the city centre, providing much needed revenue for the shelter. A drone survey was also completed of the building’s roof, to assist Arena Church with assessing repair and maintenance needs.
In February, G F Tomlinson worked with local sub-contractors alongside Pastor, Jono Kirk, from Arena Community, to convert previously unused space into a shower and washer / dryer facility for vulnerable Nottingham residents to use who lack access to basic sanitation facilities.
In 2023, the contractor provided a total of £67,782 worth of social value-added opportunities for Arena Church, and the vital additions will act as an extension of the church’s mission to ‘Go, Grow, Love and Serve’ in Nottingham City, with facilities and spaces on hand ready for the church’s ‘Care for a Coffee’ initiative, which launches early next year.
‘Care for a Coffee’ will provide warm, safe spaces for vulnerable people to get a weekly hot meal, with an option to clean and dry clothes and make the most of a ‘shower hour.’
Stephen Green, project manager at G F Tomlinson, said: “It has been a pleasure to return to the Arena Church and to build on the great work we did previously, providing further necessary renovations to this community asset and provide help and facilities where most needed, especially in the wintertime.
“As a company, we are strong advocates of the incredible work that Arena Church does for the local area, and it’s a privilege that the team have again been involved in further enhancing spaces to provide refuge for vulnerable people in Nottingham.”
Jono Kirk, Pastor at Arena Church, said: “We’re very grateful for our relationship with G F Tomlinson and other subcontractors who have helped us on our journey to improve support services for city residents who need our help.
“Our community can now access vital facilities and safe, comfortable spaces which they wouldn’t have been had without the help of this partnership. Thank you to everyone involved.”
Having won several high value projects during 2023 and already secured more projects of a similar size and value for 2024, workplace consultants and commercial office fit out specialists Blueprint Interiors has expanded its furniture supply team following the appointment of Sinead McCaffery as a furniture project coordinator.
Sinead has extensive experience in the commercial interior design and retail industries and is passionate about all aspects of art and design. In her new role, Sinead will report to furniture manager Gemma Ryder and be involved in project managing furniture orders and arranging delivery schedules to ensure Blueprint Interiors continues to provide excellent customer service and projects are delivered to the highest standard.
Head of furniture, Gemma Ryder said: “Flexible working and how employees prefer to work means that the specification of office furniture is a much more considered decision. There is a greater wider range of options available from leading UK and international furniture manufacturers. It is therefore important that we expand the size of the team so that the ordering and delivery of furniture is carefully co-ordinated alongside the overall office fit-out schedule.”
Sinead added: “I have always respected Blueprint Interiors and its reputation as a specialist within the interior design industry. As well as being experts in their field I liked the fact their culture and the way they design for clients is very people orientated.”
Blueprint Interiors is based in Ashby de la Zouch and has completed workplace consultancy and office fit out projects for a number of the region’s top 200 employers and best companies to work for. Clients include Gleeds, The Melton Building Society, East Midlands Chamber, and Worldline.
Business leaders are being encouraged to explore how they can realise the potential of their organisations, with support to grow from the University of Derby.
Help to Grow: Management is a practical training course delivered by world-class business schools, accredited by the Small Business Charter focusing on building and strengthening people’s capabilities to lead a business, delivered by the University of Derby across Derbyshire.
This course incorporates hybrid learning, peer group networks and mentoring and will support managers and leaders of small and medium-sized businesses to boost business performance, resilience, and long-term growth. The 12-week course is 90% funded and the fee payable by participants is £750. The course has been designed to allow participants to complete it alongside full-time work.
A new cohort is now available to join this month. Benefits from taking part in the course include:
Enhance your management and strategic capabilities
Produce a growth plan for your business
Build resilience to future shocks
Learn how to innovate in your business
Adopt digital technologies to boost productivity and operational agility
Develop your value proposition and reach into growth markets
Improve employee engagement and responsible business practices
Course tutors Dr. Elnerine Greeff, Lecturer in Marketing at Derby Business School, said: “I’m especially excited to form part of this Help to Grow initiative. The beauty of this programme is that we have businesses which are just starting out now, and we have people with a wealth of experience.
“It is everything that you wanted to learn in your three-year business course at university, condensed and tailor-made to your business, with face-to-face time, mentorship, and absolutely everything that you need to make successful what you are already passionate about.”
Later this month a pilot programme will kick off a new LLEP Business Gateway Growth Hub peer network for business owners.
The group is aimed at developing leadership skills in businesses in Leicester and Leicestershire and is called Transform to Grow.
It will support the growth and development of businesses trading for a minimum of 12 months, and which have five or more employees.
Peer Networks have been a success story of recent years, enabling business owners to build and strengthen their organisations through a trusted support network.
Transform to Grow will be facilitated by Maria Peggs of Vispera. It will enable 12 business owners to share ideas, collaborate and network with fellow entrepreneurs at a similar stage in their business growth journey.
There will be five online sessions, of three hours each, including the following topics:
Values: Impact of your personal values on quality and the business
Change: How to manage all forms effectively
Pricing: The Most Powerful Profit Lever
Leadership: Understand Your Style
Resources: Effective Management.
There will also be a celebration lunch at the end of the programme, which is fully funded for eligible businesses.
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead. It has become something of a tradition, given that we’ve been doing this now for over 30 years.Here we speak to Seb Saywood, investor at BGF in the Midlands.
There’s no doubt that the majority of businesses currently face a challenging economic environment, and growth businesses are no different. However, dynamic, well-capitalised companies are well positioned to seize opportunities and manage challenges ahead in a measured way.
That’s why the current market conditions present an opportunity for BGF, as it was created to fund promising businesses with limited access to capital.
From our perspective, momentum really picked up in the final quarter of 2023, with deal pipeline building towards a strong Q1 across a variety of different sectors.
The issue of raising capital has been a real sticking point over the last few months, with the cost of lending increasing substantially.
Unsurprisingly, the cost of lending has led to an increase in companies exploring minority equity deals. BGF’s unique balance sheet investment model means that we are well positioned to continue investing throughout the economic cycle, forming long-term partnerships with companies and supporting them over time as they grow.
While we don’t expect to see a shift in interest rates in the coming months, we do expect to see better deal flow more broadly across the Midlands in 2024. This is largely due to pent up demand, following a more subdued first three quarters of 2023, and this is likely to be a major contributor to increased activity.
What’s more, the political backdrop may also drive M&A activity in the first half of 2024. An election tends to bring a degree of uncertainty and we expect many will think hard about the sustainability of current capital gains tax rates.
Real Fun Group Ltd is set to become a prominent player in the UK’s independent bingo sector following the acquisition of eight bingo clubs and their freeholds from Majestic Bingo Limited out of administration.
This strategic acquisition expands the group’s portfolio to a total of 10 bingo clubs throughout England and Wales, further establishing its presence in the industry, whilst safeguarding the employment of over 140 individuals.
Experienced entrepreneurs backing the group, which already operates two independent bingo clubs, have reinforced their commitment to growth and community engagement through this significant expansion.
Majestic Bingo Limited entered administration on 7 July 2023, overseen by Tim Bateson and Chris Pole from Interpath Advisory as joint administrators.
Tim Bateson, director at Interpath Advisory and joint administrator, said: “Having been appointed in July 2023 and traded the business for nearly six months, we are absolutely delighted to have achieved this going concern sale, which not only will see all eight venues continue to trade, but which also both safeguards the employment of 140 people and ensures continuity for the communities which these clubs serve.
“We would like to extend our thanks to the many stakeholders who have provided support to the administration team since our appointment, including customers, suppliers and Majestic’s dedicated staff. Their support has enabled us to conclude this transaction which will enable the business to continue under new ownership.”
Kevin McGinnigle, CEO of Real Fun Group, shared his enthusiasm for the new venture, stating: “I’m incredibly excited by this opportunity. This was a well-run business that was hit with devastating luck over the last few years, and I can’t wait to work with the team. To sit here today, knowing we’re able to keep so many people in work is an unbelievable feeling.”
He further added: “Undoubtedly there is a lot of work ahead of us and I’m confident we’ve got the right people within the business to make this a huge success for everyone concerned. Coming from a family of bingo players, I’m aware of the role that local bingo clubs play in their community and to get the opportunity to keep these historic clubs open for our customers is just fantastic.”
With this acquisition, Real Fun Group now employs nearly 200 staff across 10 bingo clubs nationwide, positioning itself as one of the UK’s largest independent bingo operators.
Shoosmiths’ Corporate Restructuring & Advisory Team acted for Real Fun Group. Sarah Teal, partner, said: “It was an absolute pleasure to have supported Real Fun Group with this acquisition, securing the future of these bingo clubs that are integral to the communities in which they operate and securing jobs in time for Christmas.”
Stuart Taylor, partner in the Restructuring & Insolvency Team at Harrison Clark Rickerbys, acting for the joint administrators, said: “It was great to work with the joint administrators on the sale of Majestic Bingo, a deal that safeguards a number of jobs and ensures continuity of local businesses.”
Majestic Bingo operates from eight sites across England and Wales including:
BGF-backed Business Support Experts Group (BSE) – business tax relief specialists – has donated more than 500 presents to children through an initiative with Nottingham City Council and The Children’s Adventure Farm Trust (CAFT) in Altrincham.
The BSE team hand-picked personalised toys from Smyths and thanks to Nottingham based Global Solutions Clothing (GSC) they dressed up as elves to deliver the gifts and share with the children. They also provided the opportunity for children to meet Santa in Nottingham for a framed photo, thanks to the team at Captcha Photography.
Commenting on the Christmas appeals, BSE CEO Mark Joyner, said: “Our team wanted to give back to the communities we all live and work in, especially during such tough financial times. We’ve absolutely loved this Christmas charity campaign which allowed us to spend time with some of the children, as well as donating the toys & creating some smiles.”
Mark Joyner added: “As a business, we are committed to supporting the growth of other SME companies and it is thanks to our clients and partners continued support that we are able to do more for those who have less. As we have ambitious plans to expand further in 2024, we hope to be able to bring even more joy to children next Christmas.”
Business confidence in East Midlands rose by five points during December to 34% – one of only two regions to report an increase – according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Firms in East Midlands saw a five point increase while those in West Midlands saw confidence up by one point to 33%.
Companies in the region reported higher confidence in their own business prospects month-on-month, up 13 points at 51%. When taken alongside their optimism in the economy, down four points to 17%, this gives a headline confidence reading of 34%.
East Midlands businesses identified their top target areas for growth in the next six months as investing in their team (51%), evolving their offer (32%) and investing in sustainability (26%).
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 40% of businesses in the region expect to increase staff levels over the next year, up ten points on last month.
Overall UK business confidence fell two points in December to 35%, the first decrease since August, driven largely by firms’ outlook on the overall UK economy which dipped by eleven points from 38% to 27%. Businesses’ optimism in their own trading prospects also decreased, but less markedly so – by five points to 43%.
Companies’ hiring intentions also dropped slightly with 29% of firms intending to increase staff levels over the next 12 months, down six points month-on-month.
The North East was most confident, remaining at 48% for the second consecutive month, followed by the East of England (45%), London (38%) and the South West (36%).
Firms in the services industry reported a significant decrease in confidence, down 16 points to 30%, due to moderation in both trading prospects and economic optimism.
Manufacturing confidence also eased back (38%, down seven points). However, retail and construction both bucked the trend with rises to 44% (up two points) and 37% (up two points) respectively.
Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “Businesses in the East Midlands have marked the largest rise in confidence of any UK region or country as we conclude the year.
“The rise was recorded following the Chancellor’s Autumn Statement where a new East Midlands Investment Zone, which could bring in £383m of private investment and create 4,200 jobs, as well as a deal to bring devolution to Greater Lincolnshire, was announced.”
Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “This December data was collected following several key announcements, including energy prices rises and the UK economic outlook being revised down in the Autumn Statement. All of this will undoubtedly have had an impact on business confidence as we head into 2024.
“Businesses are also balancing cost pressures with a challenging labour market that will see increases to minimum wage in April 2024, as perhaps indicated in the wage growth figures, at a time when they are managing staff retention and recruitment decisions.
“However, over the course of the year confidence has steadily increased from an average confidence of 25% in the first three-months of 2023 and ending the year with a three month average of 39% – an indication of the positive trajectory business has seen this year. This provides a healthier position to begin 2024 with, compared to 2023.”
The business owners of Swithland’s The Griffin Inn are investing £1 million into an extensive renovation of the pub, in conjunction with Everards.
The gastro pub forms part of The Cat & Wickets Pub Company, owned by ex-England cricketers Harry Gurney and Stuart Broad. Over the past year, £75,000 has been spent on refreshing the pub’s interiors and creating an elevated courtyard. A further £1 million is to be spent on further renovations, with work due to start at the beginning of January 2024.
The kitchen will be overhauled to double its existing size and will include fully electric equipment. The Old Stables will be transformed into an additional dining space within the gastro pub, creating 80 more covers. 30 additional covers will also be created in the courtyard as part of the planned work.
The management team anticipates a 60% increase in turnover following the renovations, which will equate to a 60% uplift in available working hours. As a result, the team anticipate that 20 new jobs will be created alongside progression opportunities for the existing team.
The management team hope to reopen the pub’s doors in March.
Harry Gurney, Managing Director at The Cat & Wickets Pub Company, says: “We’re really excited about this next round of renovations. I’m a Loughborough lad, and Stuart and I both know that we are simply caretakers of a pub that has meant a lot to the local community for hundreds of years.
“We promise to continually nurture and cherish it, while always looking for new and innovative ways to improve the customer experience along the way.”
Matt Crehan, business relationship manager at Everards, said: “We’re delighted to work with the Griffin team to bring their vision for the pub to life. In 2023, we’ve invested over £4 million in supporting our business owners with repairs and investments.
“We look forward to kickstarting 2024 by supporting the Griffin and the Swithland community by investing in their pub.”
Legal & General Investment Management (LGIM) has sold Meridian Leisure Park in Leicester to Greenridge Opportunities LP for £25 million reflecting a yield of 8.50%.
Montagu Evans advised the seller and Savills advised the buyer in this off-market transaction.
The East Midlands destination leisure park extends to 155,071 sq ft GIA across a 19.8-acre site southwest of Leicester City Centre, directly off the Leicester Ring Road (A563) and 1.5 miles from the M1 (J21). It is anchored by Vue Cinemas and Hollywood Bowl, with other occupiers including David Lloyd, Nando’s, Five Guys, Burger King, Pizza Hut and Frankie & Benny’s.
It has been owned by LGIM’s Leisure Fund since 2002, with a number of new leases and regears undertaken during this time. The park is 99% let with over half the income benefitting from rental indexation or fixed uplifts and a term certain of approximately 12 years.
Bik Bhuptani, partner at Greenridge, said: “We are excited about the addition of Meridian Leisure Park to our portfolio. This acquisition perfectly aligns with Greenridge Opportunities LP’s strategy of investing in high-quality, income-generating assets.
“The park’s robust tenant mix and prime location underscore our commitment to identifying and capitalising on unique opportunities in the leisure sector. We see significant potential for value creation and look forward to enhancing the park’s offering, further cementing its status as a key leisure destination in the East Midlands.”
Andrew Ferguson, senior fund manager of the Leisure Fund at LGIM, said: “The leisure sector has been tested over the past few years in the face of wider economic challenges, particularly within the cinema market – however, good quality, well managed leisure schemes in prime locations continue to remain resilient; Meridian Leisure Park is testament to this.
“As the sector is stabilising once again, with a positive pipeline of films over the next three to five years, we hope and expect to see a strong rebound for the cinema market. We’re pleased to have completed this transaction with Greenridge, allowing us to re-invest for new opportunities.”
Edward George, partner at Montagu Evans, said: “This is an exceptional transaction and an important benchmark for demonstrating liquidity in the sector. LGIM is one of a number of institutions looking to free up capital for new opportunities and portfolio-wide improvements, including ESG commitments. It sets the tone for a number of leisure park transactions expected over the next 12-18 months as the market recalibrates.”
Tramlink, which operates Nottingham Express Transit (NET), has completed a financial restructuring project which has secured the future of the network for the next ten years.
The news follows the successful renegotiation of loan terms from lenders, and was necessary to avoid further and ongoing breaches of banking covenants. It puts the concession, which allows Tramlink to run the NET tram system, in a stable position to move forward, following significant market changes.
The network is still feeling the effects of the pandemic, with passenger figures remaining around 80% of pre-COVID levels. Meanwhile, the impact of rising electricity costs as well as a period of sustained hyper-inflation are all contributing towards a changing market dynamic.
However, the move, which has been praised by Nottingham City Council and the Department for Transport, will ensure NET can continue to offer a green, convenient and affordable way to travel through the city and the surrounding areas.
The deal, which has been two years in the making, will also allow the team to focus on improvements across the board, including investment in new technology, the recruitment of more revenue protection officers and updates to ticketing systems. It will also allow them to look to the future with possible expansions to the network.
Tim Hesketh, CEO of Tramlink, said: “Nottingham’s trams are an integral part of the city’s life, helping to connect thousands of people each day who rely on the network to travel to work, to their place of study, or for days out with family and friends.
“This new financial restructuring has been an ongoing project we’ve been working on for two years following the challenges we faced during the pandemic. There will be no changes to our customers in terms of how they use the trams as a result, and they can still expect the same great service from us.
“However, it gives us a secure financial position which will ensure we can keep on providing the people of Nottingham with reliable, convenient and sustainable travel for many years to come, whilst also allowing us to make key improvements across the whole network.
“We’d like to thank the City Council and Department of Transport for all their support as we look ahead to a brighter future for the city.”
Tramlink has been the private investment partner in the Nottingham Tram since 2011, when Nottingham City Council entered into a Private Finance Initiative (PFI) with the business to build NET Phase Two and operate the extended tram system. Under the PFI, Nottingham City Council has a range of financial commitments, including annual payments to NET for the ongoing operation and maintenance of the whole service.
The council has welcomed the restructuring during a difficult time.
Councillor Angela Kandola, Nottingham City Council’s Portfolio Holder for Transport, said: “This deal to secure the future of our tram system post pandemic is great news for Nottingham, reflecting the culmination of nearly two years of collaborative effort among Tramlink, shareholders, lenders, ourselves, and the DfT.
“Given the current financial challenge being faced by the city council, it is even more important that we have worked with partners to secure a thriving future for our system – a cornerstone achievement in our mission to offer top-tier public transport, alleviate congestion, achieve cleaner air and less emissions and foster local economic growth.
“This achievement not only ensures financial stability for our tram network but also empowers Tramlink to focus on making the network even more successful and useful going forwards.”
Flexible working, continuous personal development and maintaining a work-life balance are top of the list for the next generation of business, according to a report by East Midlands Chamber’s network for young professionals.
A healthy work-life balance was ranked as the most important aspect of a job by employees aged 18 to 35 in Derbyshire, Leicestershire and Nottinghamshire, with 34% citing this as being above all other considerations in a survey by the Generation Next network.
This was followed by salary (30%), entrepreneurial freedom (20%), benefits (10%) and innovation (7%).
When asked how important hybrid and remote working is to securing a role, respondents gave it an average score of 7.3 out of 10.
Generation Next, which runs professional development events and mentoring services for 18 to 35-year-olds, carried out its first-ever Young Professionals in the East Midlands Survey, with the aim to help businesses and other key stakeholders in the region understand the development needs and preferences of the future and existing workforce, as well as to align the network’s offering to members.
The findings, which also covered challenges encountered by young employees and the type of learning they desire, will be discussed at the inaugural Generation Next Conference happening at Nottingham Forest’s City Ground stadium, on Friday 12 January.
Lucy Robinson, director of resources at East Midlands Chamber and Generation Next lead, said: “Undertaking this survey has been a really important piece of work for us, not only to help the wider East Midlands business community to retain and attract young talent, but also to ensure our services are still relevant in developing the region’s skills.
“Our Generation Next board of champions, chaired by Daniel Nikolla and featuring young professionals representing a broad range of sectors across the region, have spearheaded this work as they felt it was integral to giving a voice to young people working in our businesses, while enabling the network to stay committed to our mission of helping the young business community in the East Midlands to thrive.”
Other key findings in the survey, which was completed by 116 participants, included:
While four in 10 of respondents use to LinkedIn for career development opportunities, 22% look to their own organisation, with local business groups and education institutions also accessed. Some 77% said a company’s training policy is an important driver for recruitment.
Continuous learning was valued by 82% of respondents throughout their careers, with 32% interested in accredited learning.
Networking was found to be either a somewhat or incredibly significant driver of career development for 98% of respondents, and 82% expected their employers to finance a subscription to a membership organisation, such as the Chamber or Generation Next, to support their skills development.
Thirty-six people said they had been mistreated for being young or inexperienced, with other challenges reported including a lack of resource, disrespectful behaviour, a lack of self-confidence, resistance to change from their employer and restricted flexibility.
Generation Next was launched by the Chamber in February 2020 to offer support to young professionals working in Derbyshire, Leicestershire and Nottinghamshire. The network has since grown to more than 300 members, and offers networking opportunities, skills webinars, a mentoring scheme and resource library.
Family-owned vehicle parts distributor SDL Minorfern has teamed up with the Matthew Good Foundation to launch the Minorfern Foundation, which aims to give £40,000 in grants to charities and community groups before the year is out.
With a team of more than 320 employees, the newly-created Minorfern Foundation has received a wide range of excellent nominations from SDL Minorfern employees for local organisations needing support, covering four main areas: Alleviating poverty, supporting children and young people, improving health and wellbeing, and caring for animals.
Nick Holland, MD of SDL Minorfern said: “I am thrilled to announce the launch of the Minorfern Foundation on behalf of our entire team. Committed to making a positive impact in the communities where we live and work, our foundation aims to support smaller regional charities that are truly making a difference.
“Over the next year, our team spanning 12 branches will select ten charities that have had a meaningful impact on either our staff members and wider families or great causes in our local communities.
“By the end of 2024, we aim to donate £40,000 and we look forward to actively contributing to these causes and creating a lasting, positive change in the regions where our business operates.”
Along with announcing the launch, the Minorfern Foundation has named the first two shortlisted charities to receive donations.
The Children’s Hospital Charity was nominated to receive £4,000 by the SDL Minorfern head office in Clay Cross, Chesterfield. The charity supports Sheffield Children’s NHS Foundation Trust to change lives every day.
The grant will support the specialist Pre-Operative Healthcare Team that cares for children and young people with complex health needs that require specialist care. The funding will be used to create a calming atmosphere and welcoming environment for patients and their families that will include sensory equipment, toys and books.
Contractor G F Tomlinson has started work on the site of a multi-million-pound refurbishment of Chesterfield’s theatre and museum.
The refurbishment of Stephenson Memorial Hall home to both the Pomegranate Theatre and Chesterfield Museum includes the creation of a single entrance to both facilities, an expanded theatre, a reconfigured museum, community spaces and a new café bar. The project is led by Chesterfield Borough Council, and is due to be complete by the end of next year.
Construction firm G F Tomlinson has taken control of the site and will now work to deliver the enhanced building along with improvements to Corporation Street.
Initially announced in 2021 following a funding commitment from the Government’s Levelling Up Fund, the project has been in development ever since. The Museum and Theatre closed in 2022 to allow preparatory works to begin including the removal of asbestos, ground investigations and a strip-out.
Councillor Kate Sarvent, Chesterfield Borough Council’s cabinet member for town centres and visitor economy, said: “Since closing in 2022 we’ve been very busy behind the scenes both preparing the building for renovation and finalising the plans with our partners including our fantastic architecture team to ensure our ambitions can be realised. I’m delighted that G F Tomlinson have now begun work on site to deliver this project for our residents, we look forward to working closely with them over the next few years and keeping everyone updated on progress within the building.
“This is a landmark building in our town and a place where generations of Chesterfield residents have created lasting memories. This project seeks to protect this building for the future but also enhance the visitor experience which will encourage more people to attend shows and visit our museum.
“This ambitious project will benefit both our community and our economy – we are committed to investing in the future of our borough, to ensure it can thrive for years to come and has first class facilities for both residents and visitors to enjoy.”
With Christmas just around the corner, new data from insolvency firm Begbies Traynor covering the first 10 weeks of Q4 2023 shows that thousands of UK retailers are in critical financial distress – including almost 1,000 online-only organisations.
Nearly 4,500 businesses are now in critical financial distress as poor consumer confidence, sticky inflation, and elevated interest rates force consumers to hold back from spending big, even in the run up to Christmas.
The decision by many consumers to remain very prudent on household expenditure during the most important shopping weeks of the year only adds to the pressures faced by this embattled sector, says the company.
Julie Palmer, Partner at Begbies Traynor, said: “There is no doubt about it; the last 12 months have been incredibly difficult for British retailers as an increasingly tough economic backdrop continued to pile on the pressure, with businesses that were only just standing on two feet again now feeling the pain this Christmas.
“And, after a year where consumers faced one of the worst cost-of-living squeezes on their wallets, the shopping bonanza many retailers were relying on this Christmas does not seem to have materialised, pushing many businesses close to financial ruin this winter.
After the boom during the enforced lockdowns of the pandemic, the data also highlights the shift away from online only retailers as consumers return to bricks and mortar stores, favouring an omni-channel offer. In Q4, the number of online only businesses in critical financial distress leapt 11.7% to 910, representing over 20% of all the businesses in critical distress, while 7,393 online businesses were in significant distress, up 6.48% on the prior quarter.
“What’s particularly interesting is the number of online only retailers now in critical financial distress. After the surge during the pandemic, it looks like the need to operate an omni-channel business model is more important than ever for retailers looking to succeed in this market.
“Sadly, after the year they have just been through, many business owners will be looking ahead to 2024 with a degree of hope, but there’s nothing to suggest it’s going to be any easier next year.
“After years of being addicted to cheap money, many of these businesses must now grapple with increased costs and another minimum wage hike in April, while converting their stock into cash to avoid quarterly rent day turning in to a fatal New Year hangover.
“On top of that, the situation is deteriorating for many consumers as energy bills and interest rates remain stubbornly high. It is likely this situation will only get worse when over 1.5 million UK households roll off cheap fixed rate mortgage deals in 2024.
“Ultimately, many of these businesses will have loaded up on debt during the good years and must now deal with the painful reality of higher interest rates at a time where demand is shrinking and margins are being eroded. So, plenty could fall victim to these pressures as the debt storm breaks across the country next year.”
Nottingham-based SDL Property Auctions has been acquired by Leeds-headquartered Eddisons in a deal worth up to £3.25m, forming one of the country’s largest property auction houses by volume.
Led by MD Andrew Parker, SDL sells residential and commercial properties across the UK, offering around 2,000 lots for sale annually. Employing 46 people, the firm is particularly active in the South East, Midlands and Scotland, complementing Eddisons’ property auction strengths in Yorkshire and the North West.
The acquisition builds on Eddisons’ auction business, which trades under the Pugh and Mark Jenkinson brands, with SDL Property Auctions set to integrate with the Eddisons team post-acquisition.
Eddisons managing partner Anthony Spencer said: “This acquisition significantly increases the scale of our auction business, and I look forward to working with Andy and the team.
“This is the fourth acquisition of the year for Eddisons and we continue to seek further opportunities for expansion across the UK.”
Eddisons’ strategy of increasing the scale and quality of its business, both organically and through acquisitions, has seen the firm increase turnover from £20m in 2020 to more than £40m this year.
The SDL Property Auctions deal follows previous acquisitions this year of Sheffield auctioneer Mark Jenkinson in March, Lincoln-based consultancy Banks Long & Co in May and last month’s acquisition of Andrew Forbes Surveyors in Bristol.
Mr Parkeradded: “Through our team of talented people who place our clients’ interests at the forefront of everything we do, SDL Property Auctions has developed an award- winning reputation for selling property by auction.
“We are excited to be joining Eddisons and I look forward to working with like-minded individuals to develop the opportunities that the deal presents.”
A Nottingham man who operated three illegal East Midlands waste sites – including one at which a fire took a month to put out – has been jailed for ten months and disqualified as a director for seven years.
Paul Riina-Moretti, 46, of Sneinton Dale, Nottingham had previously admitted three offences of operating a waste facility without an Environmental permit.
The court heard that a major fire broke out at the biggest site, Oakham Farm, Forest Lane, near Walesby in north Nottinghamshire, which took the Fire Service over a month to put out in the autumn of 2016.
The other sites were at Hathernware Industrial Estate, Rempstone Road, Normanton-on-the-Soar, and Horse Leys Farm, Melton Road, Burton on the Wolds.
Also sentenced at the same hearing was Paul Billingham, 55, of Wolverhampton Road West, Willenhall, who admitted depositing waste at the three sites. He received a six-month custodial sentence which was suspended for 18 months and ordered to do 200 hours unpaid work.
An investigation by the Environment Agency discovered that Riina-Moretti was operating the three sites illegally without an Environmental Permit.
Waste was deposited in vast quantities and there was no real plan as to how it was going to be processed.
At Oakham Farm, the defendant had rented two former poultry production units, telling farm officials that he wanted to store clean plastics. He said that his intention was that the plastics would be transferred to an incinerator for burning and converting to energy.
However, the reality was that significant amounts of mixed waste were deposited and stored at the site a where a fire broke out on 21 September 2016.
It generated a huge plume of smoke and residents at nearby properties were required to close doors and windows while one mother and baby were forced to move out temporarily due to the smoke.
Properties were covered in smoke and smog and there was the distinctive smell of burning plastic. Smoke was still noticeable five days later and the fire was not fully extinguished until 7 November 2016.
The fire completely destroyed the two poultry units which resulted in the landowner incurring clear up costs of £478,000.
Environment Agency officers also gained CCTV pictures from the farm which showed Billingham to be a frequent visitor from the end of August 2016 into September.
Footage showed Billingham driving an articulated lorry and trailer to deposit waste at the site on 13 occasions.
At Hathernware Industrial Estate, Environment Agency officers received complaints about waste being dumped.
They discovered that some 100 black polythene wrapped bales had been stored at the front of the warehouse, with similar baled waste stored at Horse Leys Farm.
A spokesperson for the Environment Agency said: “We welcome these sentences which should act as a deterrent to others who are considering flouting the law.
“These sites posed a significant environmental threat due to the high risk of fire and potentially significant impact to local communities and amenities.
“As a regulator, the Environment Agency will not hesitate to pursue individuals and companies that fail to meet its obligations to the environment.
“The conditions of an environmental permit are designed to protect people and the environment.
“Failure to comply with these legal requirements is a serious offence that can damage the environment, harm human health and undermine local legitimate waste companies.
Hinckley & Rugby Building Society has appointed Barry Carter as the mutual’s new Chief Executive Officer, effective from 2 January 2024.
Announcing the news, the Society confirmed that current CEO, Colin Fyfe, is stepping down after five years in the role. His successor, Barry Carter, is currently the Society’s Chief Operating Officer; a role he has held since July 2022.
Colin Franklin, Chair of the Board, said: “Colin leaves us in fantastic shape and with a great team of people in place, and we are incredibly grateful for all the good things that he has achieved. In passing the reins to Barry, he is handing over to someone who has already proved to be an effective leader, and who is clearly passionate about our Society and its members.”
Speaking about his appointment, Barry Carter said: “As COO I have been working very closely with Colin Fyfe for the last eighteen months. We have shared a vision and have developed the Society’s strategy together, enjoying a partnership with the same synergy that a Chair and Vice-Chair would. Consequently, this feels like a very smooth and natural transition.
“In planning for this change, I have sharpened my focus on developing a truly customer-centric organisation. I have strong plans for growth, both in our business and in our people, and a strong desire to make us the most efficient and effective organisation that we can possibly be. That’s something I’m very passionate about.
“During the last eighteen months, I have come to understand the beating heart of the Society and its unique personality. I believe that my strong and highly participative style of leadership will continue to benefit the Society at every level, and that I will lead us into an even more prosperous future.”
Barry Carter has more than 21 years of experience in financial services. Prior to joining Hinckley & Rugby as COO in July 2022, he was COO at HSBC Private Bank. He is a Chartered Certified Accountant, Chartered Banker, and is a Member of the Chartered Institute for Securities and Investments.
Outgoing CEO, Colin Fyfe, will begin his new role as CEO of Unity Trust Bank in 2024. Reflecting on his time at the Society, he said: “I have thoroughly enjoyed my five years at Hinckley & Rugby, and I feel that’s about the ideal period for a chief executive. My plan was to make a big difference, and then hand over the reins to someone who would take the Society to the next level, and Barry is the right person to do that.”
Robin Fieth, Chief Executive of the Building Societies Association, added: “On behalf of the BSA, I would like to thank Colin for the huge support he has shown the BSA during his time at Hinckley & Rugby. Colin has been a great champion for the mutual sector and has been instrumental in achieving positive change for building societies, their employees, and local communities.
“During his time in the sector, Colin has been a valued member of the BSA council and a committed Chair of the BSA’s green finance taskforce, where he has worked tirelessly towards the goal of improving the energy efficiency of the UK’s housing stock. We wish him every success in his next role and look forward to working with Barry Carter.”
Nottingham Venues has appointed Mark Pook as food and beverage manager at its Jubilee Hotel and Conferences venue.
With over 30 years’ experience in the catering, events and hospitality industry, Mark started his career as a bar person in Devon and worked his way up to general manager and area operations manager roles all around the UK. As general manager his particular expertise lay in opening large multi-scene businesses for a number of different operators. He has also owned and managed his own late-night businesses in Derbyshire, where he is now based.
Situated within a 65-acre lakeside landscape of the University of Nottingham, close to Nottingham city centre, Jubilee Hotel and Conferences is an innovative venue catering for everything from small meetings to large events up to 250 capacity. With 14 meeting and training rooms, a hotel with 101 guest rooms and suites, a newly refurbished atrium space and the Spokes café offering breakfast and lunches daily, it caters for wide variety of guests.
Mark Pook, new F&B manager at Jubilee, said: “I’m excited to become part of the Nottingham Venues team and bring my industry expertise to enhance Jubilee’s offer even further. It is in a fantastic location, with the superb Spokes cafe, as well as an extensive banqueting menu and lakeside BBQ options. It’s one of Nottingham’s best kept secrets, so I’m looking forward to seeing how we can help it reach its full potential and open it up to a wider audience.”
Tom Waldron-Lynch, general manager at Nottingham Venues, said: “The Jubilee Hotel and Conference is a key asset in our collection of independent venues specialising in meeting and events. Set in the beautiful grounds of the University of Nottingham. We’re so pleased to have found someone of Mark’s calibre with extensive expertise and vision for how we can continually provide an unrivalled guest experience at Jubilee in the future.”
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead. It has become something of a tradition, given that we’ve been doing this now for over 30 years.Here we speak to Alex Hudson, Market Senior Partner at PwC East Midlands.
It’s fair to say that 2023 was a challenging year for businesses, from economic uncertainty to geopolitical events which impacted the market. That said, there were also many opportunities created, and as we look forward to 2024, we should consider how we can take advantage of these.
Productivity was a hot topic for 2023 and this is set to continue. The PwC Productivity Tracker, which takes a human-led and tech-powered approach to analysing the various components that make up productivity, focused on the regional differences in terms of productive growth. Out of the 12 regions, when comparing rates of productivity growth, the East Midlands achieved fourth place, highlighting the opportunity we have to increase our regional output.
The Tracker indicated that the regions who perform the best prioritised change and innovation, be it through development, regeneration or investment to name a few. It also underlined the close relationship between strong productivity growth, talent availability and high skills levels, all of which we have here in the East Midlands.
With the recent announcement that the East Midlands investment zone is to be extended, as well as the free port we have at East Midlands and the Combined County Authority devolution deal set to be realised in summer, 2024 should present a lot of opportunities for growth for East Midlands businesses.
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