Black Friday: East Mids cyber security expert warns shoppers to be vigilant
Cyber criminals will be looking to exploit shoppers during the Black Friday sales – an expert from East Midlands cyber security firm CSS Assure has warned.
People in the UK are planning to spend an estimated £3.95bn on Black Friday (25 November) and Cyber Monday (28 November) purchases this year, according to research by comparison site Finder.
Mike Wills, director of strategy and policy at cyber and data security firm CSS Assure, said bargain hunters lowering their guards during the rush to bag the best deals are at greater risk of malicious threats.
He added: “In the run-up to and during Black Friday and Cyber Monday, many outlets will run promotional offers to encourage spending. This is a potentially lucrative time of year for cyber criminals as they know shoppers are less vigilant as they rush to snap up the best deals.
“Cyber criminals will no doubt be looking to take advantage of the vast amount of transactions taking place and the financial information being shared as a result. There is also an increase in promotional email traffic, which makes it hard to differentiate the real bargains from scams – presenting a heightened risk of phishing attacks.
“With this in mind, it is important consumers take steps to protect themselves and their families during two of the biggest shopping days of the year.”
Password management
“Firstly, shoppers should change their passwords right away. While this is a faff, it is the single greatest defence you can make to protect yourself against a cyber attack and will instantly make you much safer online.
“Currently, there are millions of emails and passwords for sale on the dark web, which have been breached by companies that have not protected people’s personal data sufficiently. Cyber criminals can buy this data for minimal amounts of money and gain access to your emails.
“They will look for social media accounts and online high street accounts and test your combination to gain access. From this, they can gather more personal data until they have enough to conduct identity theft, which could result in credit being taken out in your name or using your saved payment cards to make online purchases, for example.”
Personal data breach identification
“It is a good idea to understand whether your data has been breached so you can put in place other necessary measures to protect yourself. To do this you can use a free service provided by Have I Been Pwned. All you need to do is enter your email address and the site will tell you whether it is associated with a breach and if so, what other data has been stolen.
“If you have been breached, it is even more important that you change your password to break the chain. Next, you need to understand whether you have been entered into any spambots – as the name suggests, these are bots that send spam to you.
“While some spam is laughable, others are highly credible. If you’re rushing, there’s a higher change you will click a link in a spam email, which could execute malware or ransomware on your device.
“Unfortunately, the only way to rectify and avoid your exposure to spam – and, in turn, the chances of clicking on a malicious link – is by changing your email address. This is best done by transitioning email address information on websites over a period time. While this is an arduous task, it is an effective and vital way to protect yourself.”
Check your anti-virus protection
“Finally, make sure your anti-virus protection is installed, activated with a valid licence and updated. While free anti-virus software is available, in life you get what you pay for and it may not protect you sufficiently. Competition to provide the best anti-virus changes year on year between the main vendors as they achieve technology breakthroughs in response to the evolution in cyber threats.
“The best thing to do is check reputable tech websites for reviews of the best current anti-virus software. We recommend buying a one-year licence, and then when it comes to renew, assess which company has moved to the forefront of anti-malware protection. There will always be new customer deals to be had.”
Proposed Long Eaton Cultural Hub development scrapped to secure other regeneration projects
Richard Ledger, chairman of the Long Eaton Town Board, has backed a decision by all of its members bar one to close down the proposed £5.59 million Box Office Cultural Hub development in favour of securing remaining regeneration projects and to resurrect the previously mothballed Britannia Road Canal Bridge as part of the Long Eaton Walking and Cycling project.
The decision “was not taken lightly” by the board, which is made up of independent members from the Long Eaton business and voluntary community as well as representation from the local authority and other organisations. It was agreed at the meeting that the £5.59m would be reallocated to other projects to help offset rising inflation and other cost pressures.
The other projects that will benefit from a much welcomed cash injection will include the Galaxy Row development receiving an additional £0.68m; the Long Eaton High Street and Derby Road Junction projects will receive a further investment of £1.7m and £1.6m respectively to mitigate inflationary and other cost pressures.
The Britannia Road Canal Bridge, previously withdrawn due to a lack of funds, will now be reinstated thanks to reallocated support of £1.61 million and will offer a much welcome addition to the Long Eaton Walking and Cycling project.
Richard Ledger, chairman of the Long Eaton Town Board, says: “Whilst it has been an extremely difficult decision to close the Box Office Cultural Hub project, we are pleased to see the Britannia Road Canal Bridge reinstated and the reallocated funding helping to secure other developments that have been challenged by rising inflation and other cost pressures. I look forward to sharing progress in the near future as the Board continues to work hard to make a real difference and deliver regeneration for Long Eaton.”
J Tomlinson awarded two-year contract for council home improvements
A new contractor has been appointed to deliver improvements to council homes in Charnwood.
J Tomlinson, a property maintenance firm, has been awarded a two-year contract by Charnwood Borough Council to deliver planned improvements to council-owned homes across the borough.
The contract will include full and partial kitchen, bathroom and toilet replacements as part of the Council’s programme of improvements to its housing stock. It will also involve works such as internal and external structural alterations alongside refurbishments to empty properties.
The new contract came into place this month following a rigorous tendering process.
Cllr James Poland, the Council’s lead member for public housing, said: “I welcome this new contract and continued investment into our properties. These improvements to amenities such as bathrooms and kitchens will provide a better standard of living for our tenants.
“I’m looking forward to seeing J Tomlinson delivering the works to a high standard as well as demonstrating care for our tenants.”
The Council manages around 5,500 residential homes across the borough.
The two-year contract has potential to be extended for an additional two-years and has an estimated value of around £9 million.
Chief Executive Officer at J Tomlinson, Mark Davis, added: “We are over the moon to continue what has been an excellent working relationship with Charnwood BC over the last few years and from a personal perspective for a lot longer.
“Having an impact on the borough and individual communities is what drives our enthusiasm, and we look forward to doing this under a much wider remit with our colleagues at CBC over the next couple of years.”
J Tomlinson were established in the 1950s by the Tomlinson family in Nottinghamshire. The business has expanded over the years, and they now work throughout the Midlands and the North of England.
Tiles UK demolition paves the way for new £5m business and retail space in Stapleford
A brand new £5m Enterprise Hub is on the horizon for Stapleford following the demolition of the old Tiles UK building on Derby Road.
The Hub will be an exciting destination for independent bistro style food outlets with space to host vibrant markets, events, creative and functional activities on the ground floor, flexible office space for start-ups and existing business on the first floor, and a community roof garden terrace on the second floor.
It will be built on the current Victoria Street car park which will move to the cleared Tiles UK site. Victoria Street car park will not be closed until the new car park has been completed.
The Enterprise Hub is one of six projects being funded through Stapleford’s £21m Towns Fund, a Government scheme which aims to regenerate and revitalise towns across the UK.
Paul Sweeney, vice chair of the Stapleford Towns Fund Board, said: “Local people told us it was important to them to bring the high street back to life. We have too many vacant and derelict buildings which has a negative impact on people’s perceptions of our town, as well as local pride.
“The Enterprise Hub project was designed to transform the town centre, to attract more people to come to work and shop, and enjoy their spare time eating, drinking and socialising too. We know this will breathe life back into our great little town and make it the place we know it can be.”
Milan Radulovic MBE, leader of Broxtowe Borough Council, said: “This exciting new £5m Enterprise Hub will give people a vibrant working and living offer that will appeal to different people at different times. We want Stapleford to stand as a model for what a small town can achieve. We’ve seen the success of Beeston and know Stapleford has got what it takes too.”
Construction of the Enterprise Hub will begin once the new car park has been opened on Derby Road. The Hub will be open for business in 2024/25.
Midlands businesses raise £110m in venture capital investment amidst global economic challenges
Growing businesses in the Midlands secured £110 million in venture capital investment in the third quarter of the year, according to KPMG UK’s latest Venture Pulse report.
A total of 31 innovative companies, 17 in the West Midlands and 14 in the East Midlands, received investment in the third quarter of the year, highlighting that the UK scaleup ecosystem continues to appeal to investors but they are increasingly cautious about how much they are investing.
Joining the Midlands Engine Investment Fund (MEIF) as a leading investor in the region, FSE Group also supported SMEs in the Midlands with growth funding.
Among the companies securing investments were Onto, the all-inclusive electric car subscription, and Worn Again Technologies, the recycling firm working to rehaul the textile industry. This signals the growing investor interest in companies with genuine environmentally friendly credentials.
Khush Purewal, partner and head of deals at KPMG in the Midlands, said: “Amid a growing energy crisis, economic turbulence, continued pandemic impacts and increased pressures on businesses, funds continue to flow into businesses across all sectors in the Midlands, particularly those with strong ESG roots.
“Whilst some VCs will be focussed on existing portfolios, many have a commitment to investors to deploy capital so there is still dry powder and opportunities for good businesses with solid growth plans.
“Competition for good businesses in strong sectors will be fierce and could lead to some deal heat as we head into the final quarter of the year. However, as the economic conditions continue to deteriorate, it is likely that VC investment will remain subdued heading into Q4 2022 and beyond.”
Sainsbury, Tesco and M&S Xmas supplies hit as Lincolnshire food factory strikes
More than 700 workers at Bakkavor’s food manufacturing factory in Spalding, Lincolnshire, will strike from late November until the New Year over “poverty pay.”
Unite, the union, has said that many of the workers earn just 1p over the national minimum wage with some being forced to use food banks.
The production line operatives, who make own brand soups, sauces and deli produce for Tesco, Sainsbury’s, Morrisons and M&S, have rejected a 6.5 per cent pay offer. Unite says this is a substantial pay cut when the real rate of inflation, RPI, stands at 14.2 per cent.
Unite general secretary Sharon Graham said: “The situation these workers face is exactly what is wrong with Britain’s economy today: A company earning millions and millions in profits expecting already low paid workers to take a pay cut while prices soar.
“Unite will not tolerate attacks on our members’ jobs, pay or conditions and our Bakkavor members have the union’s complete backing as they strike for a better deal.”
The strikes, which begin on 25 November and will last until 2 January, will impact own brand food products for Tesco, Sainsbury’s, Morrisons and M&S. More strikes will be scheduled if the dispute is not resolved.
Strikes were due to take place in early November but were postponed to allow for an amended pay offer to be voted on. The workforce rejected the offer and negotiations between Unite and Bakkavor have since collapsed.
Unite regional officer Ravinder Assi said: “Tesco, Sainsbury’s, Morrisons and M&S all have a case to answer if they do not pressure Bakkavor to use some of its massive profits to give these workers a proper pay rise.
“Supermarket customers will be appalled to know that the own-brand goods they are buying are made by supply chain workers who are being treated so disgracefully. Bakkavor can well afford to put forward an offer our members can accept and needs to do so.”
The news comes after Bakkavor announced proposals to close Bakkavor Salads in Sutton Bridge, Lincolnshire and Bakkavor Desserts in Leicester.
Bakkavor said in a statement: “Bakkavor can confirm that following a ballot of its members the Unite union has rejected the proposed 6.5% pay increase and will move to take strike action at Bakkavor’s Spalding site. Around half of Bakkavor’s colleagues at Spalding are members of the union.
“We have detailed contingency plans in place to ensure that we continue to serve our customers and that any disruption is kept to a minimum.
“Across its UK sites, Bakkavor has been awarding pay increases for colleagues – a move to support its people despite the challenging economic context for the sector. Bakkavor believes its proposed 6.5% pay award for colleagues in Spalding is positive and sustainable and is part of a broader package of employee benefits.
“Bakkavor’s proposed pay offer ensures we remain competitive in the local market at a time when current trading conditions are causing significant levels of inflation across its cost base. As with businesses all over the UK, we are having to take decisive action to adapt to the challenging macro-economic backdrop, as we seek to protect our business. This has recently included our proposal to close two sites; Bakkavor Salads in Sutton Bridge, Lincolnshire and Bakkavor Desserts in Leicester as announced on 9 November.
“Bakkavor is very disappointed the Unite union is going ahead with strike action based on pay claims that are simply unsustainable in the current trading environment.”
Corporate insolvencies rise by over a third as tougher economy bites
A sharp rise in the number of corporate insolvencies is highlighting the devastating effect on local businesses of rising inflation and falling consumer confidence, with increased numbers closing down voluntarily as trading conditions become insurmountable for some.
The warning comes from the Midlands branch of insolvency and restructuring body R3 and follows latest statistics published by the Government’s Insolvency Service which show that corporate insolvencies in England and Wales increased by 38.2% in October 2022 to a total of 1,948 compared to October 2021’s total of 1,410, and by 15.7% compared to September 2022’s figure of 1,684.
October 2022’s corporate insolvency numbers are also 31.9% higher than the October 2019 figure of 1,477.
R3 Midlands chair Eddie Williams, a partner at PwC in the East Midlands, said: “The monthly rise in corporate insolvencies is driven by an increase in Compulsory Liquidations, Creditors’ Voluntary Liquidations and Administrations.
“Rising inflation, spiralling energy costs, the end of temporary insolvency legislation and a lack of post-COVID bounce-back have all hit hard on local businesses, resulting in more directors choosing to close their companies down and more creditors calling in debts to balance their own books.
“On top of this, business owners are worried about the prospect of an imminent and prolonged recession and where they’ll find the money to meet employees’ requests for increased pay as running costs increase and profits disappear.
“The jury is still out on whether the Christmas trading period, which will include an unseasonal football World Cup, will generate the traditional boom many businesses are hoping for or whether disappointing sales over the festive period will lead to companies turning to an insolvency process to resolve their financial issues.
“Now is the time for those businesses with cashflow issues and concerns over future trading to seek advice from a qualified professional, rather waiting until the problem worsens.
“Most R3 members will give an hour’s free consultation to potential clients to enable them to understand more about their circumstances and to outline the options available to help them improve their situation.”
South African brand owner considers bid for Joules
A South African group that owns brands such as Phase Eight and Hobbs is reportedly contemplating a bid for Market Harborough lifestyle brand, Joules.
According to Sky News, The Foschini Group (TFG) has been in discussions with Joules for several weeks – ahead of it appointing administrators – with an offer of investing in the business in return for a substantial stake.
Will Wright, Ryan Grant and Chris Pole from Interpath Advisory were on Wednesday (16 November) named joint administrators of Joules Group plc and Joules Limited.
At the same time, Will Wright and Ryan Grant were appointed joint administrators of Joules Developments Limited and The Garden Trading Company Limited.
Joules is one of the UK’s best-known retail brands, renowned for its premium, colourful clothing and homewear products, inspired by country living. Headquartered in Market Harborough, the group currently operates a total of 132 stores across the UK, employing over 1,600 people.
The joint administrators said they will continue to trade the group as a going concern while they assess options for the business, including exploring the possibility of a sale as a going concern.
All stores, including the group’s online store, will remain open.
Will Wright, head of restructuring at Interpath Advisory and joint administrator, said: “Joules is one of the most recognisable names on the high street, with a unique brand identity and loyal customer base.
“Over the coming weeks, we will endeavour to continue to operate all stores as a going concern during this vitally important Christmas trading period while we assess options for the group, including a possible sale.
“Since the group’s announcement on Monday, we have had an overwhelming amount of interest from interested parties. We will be working hard over the days ahead to assess this interest, but at this stage we are optimistic that we will be able to secure a future for this great British brand.”
East Midlands law firm introduces new diploma in Wills, Trusts and Lasting Powers of Attorney
Derby-based law firm Right Legal Group has created a new diploma in Wills, Trusts and Lasting Powers of Attorney, in collaboration with the Institute of Paralegals (IoP).
The diploma gives advisers, who may not be legal executives or solicitors or have a first degree in law, the opportunity to obtain an industry recognised and highly accredited qualification via an alternative route.
The collaboration between Right Legal Group and the IoP represents an innovation within the private client sector, with the law firm obtaining the endorsement of a highly respected provider of qualifications and training.
The diploma is provided through The Right Legal Group Training Academy and in order to achieve the diploma status, advisers are required to complete a six-week foundation level class room training programme, a six-month supervision and final assessment.
Ciara Wynne at Right Legal Group will be the first to obtain the full diploma, with other advisers having already met the qualifying criteria and await to complete their supervision.
Carrie Caladine, Managing Director at Right Legal Group, said: “We established this diploma, in conjunction with the IoP, to highlight achievements across our field, and our training academy helps a number of hardworking employees to build their credibility.
“Working with the IoP allows our advisers to develop their skills and training to enable them to move forward in their legal careers. I’m incredibly proud of every member who is working towards the diploma status and congratulate Ciara as our first graduate. We wish everyone the best of luck in their final supervisions.”
The Right Legal Group Training Academy has to date trained more than 150 advisers, since its inception in 2019. The courses delivered by the academy include pre-death and post-death advising at foundation, intermediate and advanced levels.
Leicester among global ‘A list’ for leadership on climate action
Leicester has retained its place as a global leader on climate action, achieving a top score on CDP’s ‘Cities A List’.
It means Leicester is one of 122 cities to receive an A score from environmental impact charity CDP for bold leadership, ambition and transparency on environmental action, its response to the climate emergency, despite the pressures of a challenging economic situation.
This year, for the first time, over 1,000 cities received a rating for their climate action from CDP, with Leicester among the 12 per cent to receive the top A rating.
To score an A, a city must have a city-wide emissions inventory, have set an emissions reduction target, published a climate action plan and have completed a climate adaptation plan to demonstrate how it will tackle climate hazards now and in the future, among other actions.
CDP celebrated Leicester and the 121 other cities on the A List for showing urgent and impactful climate action, having ambitious emission reduction targets, and for building resilience against climate change. Its analysis also shows that A List cities are taking twice as many mitigation and adaptation measures as non-A List cities.
Deputy city mayor Cllr Adam Clarke, who leads on environment and transportation, said: “We’re immensely proud to be recognised by CDP for our work on climate action and ambition to become a carbon net zero city.
“When we launched our first Climate Emergency Strategy in 2020, we were under no illusion about the scale of the challenge we had set ourselves as a city.
“As a council, we are already working hard to cut our own emissions and to support local people, schools and business to make the changes needed to help reduce the city’s overall carbon footprint. We have a good record on carbon reduction which we can continue to build on. But we know we need to do much more and to do it rapidly.
“To meet our ambitions as a city will require significant and ongoing support from the Government and local stakeholders. We all have a role to play.”
Since launching the first Leicester Climate Emergency Action Plan in 2020, Leicester City Council has led on a range of initiatives and secured external funding representing an investment of over £120million in low carbon initiatives.
This includes:
- Investment of over £14million in the UK’s first carbon neutral bus station building, which opened in June as part of the St Margaret’s Gateway regeneration project
- Progress on an £80million citywide programme of investment in sustainable transport backed by £40million from the Department for Transport’s Transforming Cities Fund (TCF)
- Investment of around £25million secured through the Salix Public Sector Decarbonisation Scheme for low carbon, energy efficient improvements to more than 90 council buildings, including schools, leisure centres, libraries and community centres.
- A successful bid for £19million of Government funding towards a £47million investment in increasing the city’s fleet of electric buses to over 100, backed by local bus operators Arriva and FirstBus
- Launching an £8million programme of work that will see external insulation fitted to over 400 homes in the city, including council houses and housing association properties
- Securing £19million from the Government’s Levelling Up Fund for new low carbon workspaces at Pioneer Park and Ian Marlow Centre.
Duo of off market lettings secured at Amber Business Centre
FHP Property Consultants have secured lettings at units 13.1 and 14.4 Amber Business Centre, Derbyshire, on behalf of private clients.
Amber Business Centre is an established industrial estate situated within 10 minutes of Junction 28 of the M1 motorway via the A38. The two properties comprise mid-terraced industrial/warehouse units benefiting from roller shutter loading doors and a recent refurbishment.
Both 13.1 and 14.4 have been let on new lease terms for a period of 5 years at a rent equating to £11.00 per ft² and £10.00 per ft² respectively.
Jamie Gilbertson, surveyor at FHP Property Consultants, says: “I am delighted to have completed these lettings. Following an initial call with our client I was able to place these under offer before we had actually listed them on the market.
“We have a strong database of active enquires which enabled us to match the property with an actively seeking business. This has been an excellent result for both our client and the tenant and I wish them every success.
“There is still good demand for quality small warehouse units and we are pleasingly placing units under offer and completing transactions on a weekly basis. We still have a couple units available on the estate, one unit is 1,272ft2 and the other unit is 618ft2 but these will be in high demand.”
Fraudulent builder prosecuted
A rogue builder who defrauded three households by taking money for work which was never carried out will have to pay £57,000 to his victims.
Trevor Anthony Lawrence – who is also known as Trevor Fail – pleaded guilty to fraudulent trading at Leicester Crown Court this week, following an investigation brought by Leicester City Council trading standards officers.
The court heard how Lawrence, aged 58, was living in Bakehouse Lane, Burton Latimer, Northamptonshire, at the time of the offences, and had been trading under the name of Max Crest.
Lawrence, who now lives in Spain, was charged under the Fraud Act 2006 in relation to home improvement works in Hamilton, Leicester, as well as at two other addresses in London between January 2016 and January 2018.
Leicester Crown Court heard how Lawrence obtained large sums of money for home improvements which were either never carried out or done to a very poor standard. He also took payment for materials which he never provided or even purchased.
Investigations into Lawrence’s business began after a customer reported concerns to Leicester City Council in 2016, and two more victims came forward via Action Fraud in 2018.
In one instance the investigator was provided with a fake invoice for goods. Evidence also showed that Lawrence had submitted no tax returns during the period when the fraud was taking place.
The court was told how Lawrence had a long previous history of fraud offences committed under the name of Trevor Fail, had been made bankrupt on a number of occasions and was a disqualified company director at the time of the most recent offences.
This week, His Honour Judge Spencer KC sentenced Lawrence to two years imprisonment, suspended for two years. As part of his plea, Lawrence will pay back £57,000 to the victims. Charges against two other defendants, one of which had since died, will lie on file.
Leicester City Council’s trading standards manager, Ronald Ruddock, said: “Home improvements frauds cause a great deal of inconvenience and distress to the victims.
“It important that householders do not pay up front for works that have not yet been undertaken. Only pay after works are completed and do not transfer large amounts of money upfront in the hope of saving money further down the line.
“Make sure you carry out checks on the builders before employing them – information can be found on Companies house, the registry trust and you can make general searches of the internet and that the contract is in writing.
“We are pleased that in this case, the defendant will pay back money he took from the people he defrauded.”
Browne Jacobson welcomes former Jack Wills CEO as a non-executive director
Law firm Browne Jacobson has appointed Suzanne Harlow as non-executive director of its retail, consumer & logistics sector.
Suzanne was previously Chief Executive Officer (CEO) of RSL Awards and global lifestyle brand Jack Wills. Suzanne has also held a variety of senior executive and Board positions whilst at Debenhams.
Suzanne has extensive experience within retail covering a wide range of fashion, home and premium beauty brands, both in the domestic and international markets.
This is one of of several sector-driven appointments for Browne Jacobson’s corporate sector in recent months which includes leading General Counsel (GC), Anneliese Reinhold as the firm’s first non-executive chair of its corporate sectoral strategy board.
Working closely with partner Declan Cushley, who leads the firm’s corporate sector market group, and partner and head of Browne Jacobson’s corporate retail, consumer & logistics sector, Roland Gray, Suzanne will bring a wealth of specialist retail NED expertise to support the firm and its lawyers in driving the retail & consumer sector strategy, which is part of the wider corporate sector strategy.
Declan Cushley said: “We are pleased to welcome Suzanne as our NED for our retail, consumer and logistics sector. She has a first-class profile in the retail industry, helping to develop and build some of the UK’s leading retail, fashion, home and beauty brands over the last 30 years. Her knowledge and expertise of the sector will be incredibly valuable to us, and a huge asset to our retail client base.
“It also endorses our O Shaped partnership commitments to being a law firm that is striving for effective change, across the legal landscape and the sectors and industries we are supporting.”
Suzanne said: “I’m delighted to be working with Browne Jacobson as they develop a deeper sector driven approach and I’m looking forward to supporting the retail, consumer and logistics team in achieving its strategic aims.”
Roland Gray added: “We know that cultural and political changes have massively impacted the retail sector in recent years, changing how, when and why consumers shop. To have someone of Suzanne’s considerable experience, gives us first-hand insight into these changes and challenges, and will help us become even more aligned to what our clients are facing. We are delighted to have her on board with us.”
200 Degrees opens doors to Derby shop this weekend
East Midlands-based coffee roaster 200 Degrees is opening the doors to its new Derby coffee shop in Derbion shopping centre, this Saturday 19 November.
Located next to Boots on the ground floor of Derbion, the new coffee shop can seat more than 60 people and has brought 12 full-time and part-jobs to Derby.
Customers will recognise 200 Degrees’ iconic fireplace, antique armchairs and rustic “Hand Made in England” feature wall. The shop will also feature a snug ‘secret’ seating area as well as tables, chairs and benches.
The new Derby coffee shop is the roaster’s 18th across England and Wales and is the 7th in the East Midlands; with shops in Lincoln, Leicester, Nottingham and at McArthur Glen East Midlands Designer Outlet.
Freshly roasted coffee, from the 200 Degrees roast house in Nottingham, will be served in the new shop, as well as hot chocolate, smoothies and milkshakes.
200 Degrees will also be serving delicious food, such as deli-style sandwiches, baguettes, cakes and pastries – including vegan and gluten-free options – which are available to eat in or takeaway.
The opening follows a successful and busy year for 200 Degrees, which celebrated its 10-year anniversary last month (October) and recently launched its new recyclable packaging and introduced recyclable coffee pods.
Rob Darby, CEO at 200 Degrees, said: “We’re thrilled about the opening of our new shop in Derby. We’ve been wanting to set up shop here for some time, being East Midlands-based, and Derbion is the perfect spot.
“Looking back at where the 200 Degrees journey started, I feel very proud of what we’ve achieved together and feel grateful for our loyal customers.
“Each new shop opening feels like such a huge win, and I’m delighted with the team’s efforts and hard work. We look forward to serving our coffee to the Derby community!”
Coffee lovers can also purchase freshly roasted beans, new coffee pods, coffee machines and home brew equipment in store, to recreate the distinctive 200 Degrees taste at home.
Frasers Group secures 1,000 jobs with Coventry Building Society Arena purchase
Shirebrook-based Frasers Group has snapped up Coventry Building Society Arena, securing up to 1,000 jobs.
Andrew Sheridan and Raj Mittal, partners at specialist business advisory firm FRP, were appointed as joint administrators of Arena Coventry Limited (ACL), Arena Coventry (2006) Limited and IEC Experience Limited.
They immediately completed the sale of the businesses, including ownership of the Coventry Building Society Arena, to certain entities controlled by Frasers Group Plc.
Joint administrator Andrew Sheridan said: “This is a pleasing outcome, which helps secure up to 1,000 jobs in Coventry and ensures that the venue will continue to play a major role in the city’s economy as a world-class entertainment and hospitality venue and home for Coventry City Football Club.
“By agreeing to sign an exclusivity agreement before the 1st November, Frasers Group was the only interested party that was able to meet the terms of the sale process. This was essential in providing the necessary funding that enabled the Arena to continue trading beyond that date.
“Without this, and the collaborative and supportive approach taken by all key stakeholders throughout the process as well as the tireless efforts of the core management team, the Arena would have been forced to close on 2nd November resulting in hundreds of job losses and a materially worse outcome for creditors. We wish Frasers Group and all involved in the Arena every success for the future.”
A spokesperson for Frasers Group said: “We are delighted with the acquisition of the CBS Arena which will complement the group’s existing portfolio of brands and investments. Through the acquisition, we are pleased to have been able to secure a long term future for the Arena, protecting jobs and supporting the local community. In particular, we are looking forward to working with Coventry City Football Club.”
A spokesperson for the Coventry Building Society Arena said: “We are delighted that Frasers Group have acquired the arena. This will see the doors of this flagship venue remain open and continue to play a strategic part in the City of Coventry’s economic tourism plan.
“It is a great result for everyone who uses the venue for business, sport, and music as we now can continue with what we do best and that’s providing hospitality at is best.
“We would like to thank all of our staff, suppliers and tenants who have worked so hard to ensure that it has been ‘business as normal’ during the past weeks. Our thanks also go to our key stakeholders, Coventry City Football Club, Delaware North UK, Coventry City Council and Coventry Building Society, for their ongoing support and collaboration.”
FRP was advised by Burges Salmon LLP during the process.
£1 million share offer announced by Derbyshire pharmaceutical company
Derbyshire-based N4 Pharma has launched a broker offer to raise a maximum of £1 million.
It is initially expected that £0.25 million will be raised in the offer, though if oversubscribed it may be extended.
The issue price of the broker offer is 2 pence per new ordinary share.
Turner Pope Investments (TPI) Limited is agent for the company.
N4 Pharma is a specialist pharmaceutical company developing Nuvec®, a novel delivery system for cancer treatments and vaccines.
Derbyshire abrasives businesses acquired
Phoenix Naylor Abrasives and Jowitt Abrasives, both based in Derbyshire, have been acquired by North West-based Trade Acquisition Partners Limited (TAP) in its first set of investments.
The deals come alongside two others in the UK abrasives and engineering sector, of West Midlands-based Swift & Whitmore Ltd, and Northern Abrasives located in Urmston, Greater Manchester.
TAP director, Ian Davidson, said: “We are delighted to have been able to acquire these long standing and successful businesses and look forward to working with the existing management teams to secure further growth through innovation and investment in both people and technology.”
The businesses have a deep rooted knowledge in the development, manufacture and distribution of abrasive and grinding solutions for multiple applications across the UK, Europe and the rest of the world.
TAP added in a statement: “TAP are delighted to open their portfolio with a complimentary mix of businesses and will be looking to add value to each of the businesses in due course.”
They are now considering other owner managed businesses seeking to exit or require additional capital to support growth or deliver a turnaround.
GMI Construction Group bolsters Midlands portfolio with over £100m of regional investment
GMI Construction Group has boosted its Midlands presence, having been awarded over £100m in projects across the region.
GMI has signed deals on projects including £30m investment at the landmark Becketwell regeneration scheme in Derby, a 155,000 sq ft logistics warehouse for St. Modwen Logistics in Birmingham and a retail park in Tamworth boasting brands such as Lidl and B&M.
In Derby, work has commenced on the Becketwell development – the most significant development in Derby city centre since 2007 – which will see the completion of a GMI-built Build to Rent apartment block in 2023. GMI will also complete a bottling plant for a German client at Dove Valley, Foston, by December 2022.
As part of its investment in the West Midlands, GMI has commenced build on various sites in Birmingham, including the development of a 102-unit residential project in the Jewellery Quarter, the regeneration of the former James Cond building for University College Birmingham and the development of a new student accommodation in Selly Oak. It has also recently completed a logistics warehouse for fashion retailer, ASOS, in Lichfield.
Andy Bruce, divisional Managing Director at GMI, said: “The Midlands is a big area with even bigger potential and, as we continue to invest in the region, it’s expected to become our largest UK division.
“As we further grow our pipeline of work in the Midlands, we will be collaborating with likeminded, forward-thinking organisations that align with our key purposes of sustainability and supporting the next generation of workers.
“It’s an exciting time for the Midlands and we’re committed to supporting the region to grow and thrive in the future, mirroring the ambitions of the Midlands Engine to create positive change.”
£3m funding package sees vehicle recovery business open new Derbyshire site
National vehicle recovery operator, Richford Motor Services, is opening a new site in Derby following a £3 million funding package from HSBC UK.
Established in 1990, Richford Motor Services provides 24-hour breakdown, repair, and recovery services for light and commercial vehicles, helping keep businesses on the road.
The 65,000 sq ft site will be Richford Motor Service’s twelfth UK depot, enabling the company to store vehicles in a more centralised location and minimise the time it takes to change and deploy vehicles to meet customer demand.
The new site will also create space for repair work and a body shop, allowing Richford Motor Services to hire up to 30 new employees in a variety of roles, such as recovery drivers, roadside tech’s, and car and commercial mechanics.
Philip Richford, director at Richford Motor Services, said: “The support from HSBC UK has enabled us to invest in key areas of our business, which will allow us to offer our customers in Derbyshire a quicker and more efficient vehicle recovery service whilst promoting our company growth.”
Chirag Makwana, relationship manager at HSBC UK, added: “Vehicles of all sizes play a key role in our lives. Supporting Richford Motor Services by enabling its expansion within Derbyshire will allow the business to continue offering reliable, consistent, and affordable vehicle breakdown support and repairs to customers of all sizes in the region.”
Car parts manufacturer to support SMEs with apprenticeship training
A car parts manufacturer with sites in Leicestershire and Derbyshire is reaching out to smaller organisations across the Midlands to help them with the cost of apprenticeship training and assessment.
Plastic Omnium is a family-led independent group that operates globally and has 137 production plants in 25 countries. In the UK the company mainly produces external car parts for Jaguar Land Rover.
The business engaged North Warwickshire and South Leicestershire College (NWSLC) to recruit its own apprentices in engineering, business administration and lean manufacturing. As part of its corporate social responsibility (CSR) objectives, Plastic Omnium made the decision to share resources from its Apprenticeship Levy fund to help smaller businesses that may struggle to afford the cost of training for their apprentices.
Six SMEs across the Midlands that work in engineering, construction and materials handling are set to benefit from the Levy transfer process which enables businesses with a turnover of £3m or more to pass on 25 per cent of the value of their Apprenticeship Levy for use by other organisations.
Richard Haswell, UK HR director for Plastic Omnium, said: “Since its introduction, we have used our Apprenticeship Levy funds to train apprentices and upskill team leaders and shift leaders across our business. We are delighted to be able to assist small businesses across the Midlands to build a talented workforce of their own using Apprenticeship Levy funding to help them develop new recruits or upskill existing employees.
“The college has been instrumental in helping us to identify the beneficiaries of this scheme which operate in a range of industry sectors in Leicestershire, Derbyshire and elsewhere in the Midlands. Training for the apprentices will be provided by NWSLC and costs will be covered under our Levy contribution.
“Plastic Omnium takes its corporate social responsibility very seriously and we feel strongly about supporting smaller local businesses in the community to succeed through skills development in these challenging economic times.”
Marion Plant, OBE FCGI, principal and Chief Executive at NWSLC, said: “We welcome this move by Plastic Omnium to support smaller businesses by sharing their Levy funds. It is imperative that businesses do not lose the opportunity to spend the Levy on training an apprentice or upskilling their existing workforce.
“The Levy works on the basis of ‘use it or lose it’ and if it is not spent, that money is subsumed into general taxation, meaning that the workforce could miss out on opportunities to improve their careers and UK productivity targets will not be met.
“Anecdotally, we have heard Levy-payers say that they are not familiar with the process for spending their training budget. With the inside track as a Levy-payer ourselves, as well as being an apprenticeship training provider, NWSLC is in a great position to advise on the process, including showing levy-payers how to pass on their training funds to others.”
