Thursday, June 26, 2025

Nursery group celebrates following national award win

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Nursery group celebrates following national award win
Storal, a nursery group which operates 27 nurseries across the East Midlands, has been named ‘Nursery Group of the Year (Medium)’ at the 2024 Nursery Management Today Awards (NMT Awards). This is the second year in a row that Storal has won the sought-after Nursery Group of the Year Award, which is testament to the consistency and hard work of its nursery teams and the high-quality care and early education it provides. The company saw off strong competition from rival companies across the country to win the award which recognises and celebrates the achievement of leading nursery providers across the UK. Storal, which recently expanded its presence in the region following the acquisition of Long Eaton based Children 1st Day Nurseries, operates nurseries in Woodville (Derbyshire), Stamford, Lincoln, Sutton in Ashfield, Bilborough, Toton, Plumtree, Newark, Grantham, Chesterfield, Clowne, Long Eaton, Syston, Hathern, Shepshed, Birstall and Leicester city centre. All nurseries are judged to be either Good or Outstanding by Ofsted. On receiving the award, Sarah Mackenzie, CEO of Storal, said: “This incredible achievement is a reflection of the care, dedication, and expertise of our amazing teams across all our nurseries. We are focused on providing the best possible nursery provision for our children, and that wouldn’t be possible without the commitment of our teams. It is a moment of huge pride for everyone associated with Storal.”

Downturn in East Midlands business confidence

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Downturn in East Midlands business confidence
Falling sales, orders, investment and profit expectation have been reported by the region’s businesses in East Midlands Chamber’s latest Quarterly Economic Survey. Confidence in making profit has dropped 38% over the last quarter and turnover expectation is down 31%. A minority of East Midlands businesses (36%) said they expect profit to improve over the next three months. 30% of businesses in the Q4 survey reported a drop in UK sales, up from 23% in the last Quarterly Economic Survey, while more than a third (34%) saw a drop in UK orders. Internationally, the story is similar with 27% of businesses having experienced a drop in overseas sales and 33% reporting a drop in orders. The figures have risen sharply since the last Quarterly Economic Survey was published. On price pressure, the majority of businesses (56%) said they expect to increase their prices, with labour costs cited as the main driver. On recruitment, most businesses that attempted to recruit (72%) struggled to find the right candidate, while there was a 9% drop over the last quarter in those that had attempted to recruit. Concern over corporate taxation, inflation and business rates have risen to the top of worries reported by the region’s businesses. The survey, which took place over a 4-week period in November, measures a combination of sentiment and measurable data and is a key indicator of challenges and opportunities faced by businesses across multiple sectors, highlighting their concerns and the level of confidence they have for the months ahead. East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “These findings paint a difficult picture for East Midlands businesses right across the board – from sales to price pressure, recruitment to the level of confidence in profit and turnover, with all key indicators showing notable decline. “If we break down what’s going on, it’s clear several headwinds are at work, impacting expectations and experience. Weakness in demand is driving a drop in sales and orders in the UK and internationally, while we’re seeing a pattern of protective measures creeping in as businesses seek to contain their cost base. “That’s demonstrated by things like a pullback on intended investment in plant, machinery and training. “This stall in investment intention is further underlined by a dip in recruitment. On one hand we have the skills gap making hiring the right candidate difficult, but seeing a 9% drop in businesses attempting to recruit in the first place is a concern. “That suggests businesses are, for now, hitting the pause button on hiring as another protective layer, but what we don’t know, at this stage, is whether this will be a sustained trend going forward or is a knee-jerk following the Autumn Budget. “We heard NI contributions for businesses would rise to 15% from next April, the threshold for payment drop and the national minimum wage increase. The emerging picture in the East Midlands is a widespread tightening of the belt and it’s telling that labour costs were reported as the greatest force behind price pressure. “There are signs of resilience within the findings of the survey, with 60% of businesses expecting to hold steady on investment intentions in plant, machinery and equipment, for example, but with the overarching picture showing the extent of downturn in confidence and experience across so many measures, it’s absolutely essential that political leaders prioritise supportive measures for business in the East Midlands.”

Budget fallout and rising costs force up company insolvencies

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Budget fallout and rising costs force up company insolvencies
Fallout from the Budget and rising overheads have driven up this month’s corporate insolvency figures, with struggling businesses set to face further challenges in 2025 when wage costs increase. This is according to the Midlands branch of insolvency and restructuring body R3 and follows latest statistics published by the Insolvency Service which show that corporate insolvencies in England and Wales increased by 12.8% in November, with numbers rising from 1,743 in October to 1,966 last month. R3 Midlands Chair Stephen Rome, a partner at law firm Penningtons Manches Cooper in the region, said: “These figures remain significantly higher than those seen both during the COVID-19 pandemic and between 2014 and 2019. “After years of rising outgoings and falling margins, businesses are facing further increases in wages as a result of the Budget, and this could be an expense too far for some firms. “R3 Midlands members are telling us that enquiries have increased over the last month, with business owners looking to restructure or have early conversations about their financial concerns or their insolvency options ahead of the new year. “This kind of activity won’t be reflected in the current set of insolvency statistics, but it provides an insight into the mood, challenges and concerns of the local business community as we come to the end of another difficult twelve months. “As we head towards 2025, we urge anyone who is worried about finances to seek advice as soon as they possibly can. Discussions with a qualified advisor at the earliest possible opportunity will provide more options for improving the situation and more time to take a decision about the next step. “Most R3 members will give prospective clients a free initial consultation so they can learn more about their circumstances and outline any potential solutions for improving them.”

White paper unveiled to drive £20bn green energy transformation in the Midlands

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White paper unveiled to drive £20bn green energy transformation in the Midlands
The Midlands Engine Partnership has launched the Midlands Energy Security White Paper, a  vision and roadmap for delivering secure, low-carbon energy and unlocking economic growth across the region. Home to a quarter of the UK’s fossil fuel generation capacity, a high concentration of energy-intensive industries and with England’s highest regional rate of fuel poverty, the Midlands epitomises both the challenges and opportunities of the clean energy transition. Drawing on the region’s energy innovation ecosystem, manufacturing expertise and cutting-edge research, the White Paper highlights how the Midlands is leading the UK’s journey to energy resilience. With £20bn of investment potential and the opportunity to create nearly 200,000 green jobs by 2041, the Midlands is central to achieving the Government’s ambition to become a clean energy superpower. The White Paper underscores the critical role of the Midlands in delivering the clean energy transition, decarbonising its industrial clusters, and leveraging its energy and advanced manufacturing expertise and research excellence to meet national net zero objectives. It sets out the opportunities for investment, job creation and innovation, building on the Midlands’ position as home to 21% of the UK’s electricity generation capacity. Key highlights include:
  • Innovative projects driving resilience: Projects such as Nottinghamshire’s STEP fusion programme, Coventry’s Greenpower Park and Humber 2030 Vision showcase the Midlands’ role in pioneering clean energy technologies, from fusion energy to battery innovation, carbon capture and hydrogen power.
  • Integrated energy system planning: The region is driving forward place-based,  ‘whole-system’ energy planning, developing Local Area Energy Plans and initiatives such as Project PRIDE. These efforts ensure energy supply and demand are better integrated, supporting businesses and communities.
  • A green jobs revolution: By 2041, the Midlands could achieve nearly 200,000 new green jobs, including in low carbon hydrogen, clean energy and smart energy systems clusters.
The White Paper emphasises how the Midlands is integrating local and national priorities, from industrial decarbonisation to community-led solutions. Projects across the region are demonstrating the diverse mix of solutions required including new financing mechanisms, including a Midlands Green Bond, and industry-led skills initiatives. Sir John Peace, Chairman of the Midlands Engine, said: “The Midlands has the ability, ambition and assets to drive the UK’s clean energy future. This White Paper showcases how our region can lead in creating secure, sustainable power while delivering economic growth and high-quality jobs. Together, we can honour the Midlands’ legacy of innovation and secure a brighter future for generations to come.” Lord Ravensdale, Chair of the Midlands Energy Security Taskforce, said: “Through collaboration, the Midlands will drive the UK’s clean energy transformation. This White Paper is a bold step towards building a sustainable energy system that benefits businesses, communities, and future generations.” Claire Ward, Mayor of the East Midlands, said: “The East Midlands is leading the way in the clean energy revolution, from STEP Fusion in West Burton to cutting-edge hydrogen and battery technology. This White Paper sets out a bold vision to harness our region’s innovation and industrial strength, creating well-paid green jobs and sustainable growth.”

Shoe Zone makes profit warning amidst “very challenging trading conditions”

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Shoe Zone makes profit warning amidst “very challenging trading conditions”

Shoe Zone has issued a profit warning following the first two months of its financial year and the first half of December, in which it says it has experienced “very challenging trading conditions.”

This includes weakening consumer confidence and unseasonal weather, both of which have decreased revenue and profit.

The company shared: “Consumer confidence has weakened further following the Government’s budget in October 2024, and as a result of this budget, the Company will also incur significant additional costs due to the increases in National Insurance and the National Living Wage. “These additional costs have resulted in the planned closure of a number of stores that have now become unviable. The combination of the above will have a significant impact on our full year figures.”

The business now expects adjusted profit before tax for the financial year ending 27 September 2025 to be not less than £5m, down from previous expectations of £10m.

Step forward for Buxton town centre regeneration

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Step forward for Buxton town centre regeneration

Plans to regenerate Buxton town centre have moved a significant step forward after High Peak Borough Council’s Executive agreed to appoint Capital&Centric as the development partner for Revitalising Buxton.

It means work can now start in earnest on the £100m plus scheme to redevelop The Springs shopping centre, Spring Gardens and Station Approach; a scheme that became possible after the Council received £6.6m of Future High Street Fund money from the Government that it used to buy the shopping centre in 2022. The Council has added £4m of its own funds to the scheme. Councillors made their decision following a rigorous selection process, and after hearing the results of a community engagement programme held earlier this year which showed a desire for a more resilient town centre with leisure, hospitality, public space, new venues and much-needed new homes. Capital&Centric plans to repurpose the 1980s indoor shopping centre into a vibrant mix of hundreds of new homes, workspaces and independent shops, bars and cafes. The vision is to give pedestrians easy access through the site from Spring Gardens up to the rail station, while also seeking to open up the River Wye, creating green public spaces for al fresco food, drinks and events. Capital&Centric will take forward the results of the community engagement and begin working up the scheme in advance of a planning application to be submitted in about 10 months’ time. The Manchester-based developer will oversee the development and construction phases subject to the application being approved. Leader of the Council, Councillor Anthony McKeown said: “Over the last few years we have gathered hundreds of ideas from the local community for the future of this part of the town. In order to move these ideas to reality we are thrilled to announce the next steps for this transformational project for Buxton by announcing a development partner. “Capital&Centric has presented a confident vision, aligned with our aspirations for this site. We now want everyone to have the opportunity to help shape the proposals through further consultation and engagement next year.” Councillor Damien Greenhalgh, Deputy Leader and Executive Councillor for Regeneration, Tourism and Leisure, said: “We promised to revitalise Buxton town centre and that’s what we’re doing. “As regeneration projects go, this is huge for Buxton and presents an enormous opportunity to diversify what we have in the town centre, whilst at the same time ensuring what is proposed compliments the great assets we already have here that are cherished by residents and visitors alike. “We look forward to working with our new development partner as we work together on this bold and exciting scheme we aim to have completed in 2029.” Capital&Centric’s recent projects include a new award-winning garden neighbourhood at Kampus in Manchester, the re-booting of Farnworth town centre in Bolton, and creating a new community at the Goods Yard in Stoke-on-Trent. Managing Director of Capital&Centric, John Moffat, said: “Surrounded by the Peak District National Park, Buxton’s a town with so much going for it – from its stunning Georgian and Victorian architecture, to its healing spa waters and buzzing food and drink scene. “The shopping centre is in an amazing location right in the heart of the town, with a huge opportunity to revitalise the spaces for shops, cafes and bars whilst bringing in new people to live here.” Engineering services company AtkinsRéalis is working with the Council on the project. Emma Davies, Project Director and UK Lead for Regeneration, AtkinsRéalis, said: “We have been advising High Peak Borough Council for over two years on Revitalising Buxton, where we have led the development of the Council’s vision for the centre of Buxton. “Through the use of our bespoke digital tools to generate data about the various uses of the town centre and its people, we have been able to connect the Council’s ambition and the needs of Buxton’s residents with a developer that understands what the regeneration project needs to achieve. “We are delighted the Council has chosen Capital&Centric as their partner and look forward to working with them both over the coming months.” Nearly 750 people responded to the community engagement over the summer and early autumn. Respondents called for more things for young people to do, shared community space, diverse options for housing, more public toilets, an increase in the variety of shops, and more greenery. All of the comments shared will enable the development partner and the Council to prepare more detailed proposals. These are expected to be out for consultation next spring.

Jobs secured after physical entertainment distributor sold to Hinckley firm

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Jobs secured after physical entertainment distributor sold to Hinckley firm

Hinckley-based supply chain solutions provider, DP World Logistics UK Limited (DP World) has bought the business and assets of physical entertainment distributor Utopia Distribution Services Limited (UDS).

It follows the appointment of Mark Supperstone and Ben Woodthorpe of Evelyn Partners as joint administrators of the business on 13 December.
UDS operates out of a 25,000 square metre, state-of-the-art facility in Bicester UK. The warehouse ships more than 30 million units (including CDs/DVDs/vinyl) annually and distributes more than 60% of the UK’s physical entertainment products for a number of high-profile record labels and retailers. Several assets were acquired in the transaction, including IT systems, and it is expected that all UDS employees will transfer to DP World via TUPE. The transaction follows bankruptcy proceedings being initiated against UDS’ Swiss parent, Proper Group AG (formerly Utopia Music AG) in September 2024. Mark Supperstone, Joint Administrator of UDS and Partner at Evelyn Partners, said: “It is unfortunate to see a business such as UDS that benefits from high-quality facilities and prominent clients in the music industry encounter these difficulties. “However we are encouraged that the business is expected to operate as usual following the sale to DP World, with all jobs saved.” A DP World spokesperson said: “We are pleased to confirm that we are taking on responsibility for full day-to-day operation of our distribution centre at Bicester, following our recent purchase of the business and assets of Utopia Distribution Services out of administration. We look forward to working closely with our entertainment partners in this expanded role. “This facility has now been open for more than a year and is proving to be an outstanding success, supplying physical music and home entertainment to the growing UK market. Our reliable and competitive service, which includes state-of-the-art technology across the centre, enables our customers to distribute to the whole of the UK from a single site. “DP World is committed to playing its part in ensuring the continued success and growth of the physical music and home entertainment sectors in the UK.”

Self-storage company expands footprint with Grimsby site

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Self-storage company expands footprint with Grimsby site
A self-storage company is building its presence across the country with a new site in Grimsby. Kangaroo Self Storage has purchased a large former retail warehouse on M Park Alexandra, the retail park in Grimsby. The site was previously occupied by home improvement retailer, Wickes. The large format building occupies a prime site on the Retail Park and already has B8 consent, enabling the site to operate as self-storage with immediate effect. The store will deliver a net floor space of 80,000 sq ft, trading over three levels. When fully fitted, the Grimsby store will be one of the storage company’s largest stores. Gareth Dougherty, Acquisitions Manager at Kangaroo Self Storage, said: “M Park Alexandra is the perfect location for trialing our new retail park presence. It’s a very visible and convenient site with easy access and ample parking. “As the need for storage becomes more lifestyle-driven, a site like this supports our ambition to bring storage directly to our customer base. We are delighted that M Park Alexandra landlords have been flexible and forward thinking – considering the current and future uses of sites like this.”
Chris Stevens, CEO at Kangaroo Self Storage, said: “Strategically, we see this as a significant transaction in the future repurposing of retail into other use classes. We expect to do more transactions like this as Kangaroo continues to expand its presence in the UK.” The transaction was led by George Kearney at LCP, part of M Core, the owners of M Park Alexandra. Their advisers were Henry Phipps of Edgeley Simpson Howe and Osborne Clarke. George Kearney, Senior Asset Manager at LCP, said: “We are thrilled to support Kangaroo Self Storage in developing their retail park presence at M Park Alexandra. With its prime location and excellent infrastructure, this site is perfectly positioned to serve the Grimsby community’s growing need for flexible and accessible storage solutions.” Kangaroo Self Storage was advised by MBM Commercial, Temple Bright and JLL.

2025 Business Predictions: Victoria Templeton, Knowledge Manager at HR Solutions

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2025 Business Predictions: Victoria Templeton, Knowledge Manager at HR Solutions
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 Victoria Templeton, Knowledge Manager at HR Solutions. With significant developments on the horizon, now is the time to consider how HR must evolve to be ready to protect businesses in 2025 and beyond. With the Employment Rights Bill, and the upcoming Equality (Race and Disability) Bill, we’re expecting 28 different reforms to worker rights and protections, which, collectively, will bring the most significant developments in employment law in decades. Other Bills which will also have an impact on employment are the Children’s Wellbeing Bill and the Digital Information & Smart Data Bill, which is expected to incorporate rules and standards for AI. HR must embrace this technology to stay ahead of any competitors. There’s never been a more important time to keep up with employment legislation. With this comes training needs. Not just for managers and employees, but for your HR team, since they advise the business on how to remain compliant. Data analytics is also a must so that HR practitioners can gain insights needed to make informed decisions that will go on to shape both the people and business strategy. A clearly defined people plan is vital to ensure the right structure, resource and skills to support the delivery of business goals and objectives.

Private equity investor backs Mansfield battery power specialist

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Private equity investor backs Mansfield battery power specialist
LDC, the private equity investor which is part of Lloyds Banking Group, has made a significant investment in battery power specialist Power Saving Solutions to support its organic growth strategy. Mansfield-based Power Saving Solutions provides high performance battery storage units and hybrid power systems for commercial use. Its Hussh Pod units work in conjunction with a variety of power sources, including diesel generators, renewable energy and on-grid sources, to give customers a hybrid power solution that maximises site efficiency, reduces emissions, reduces noise pollution and cuts costs for fuel and maintenance. Power Saving Solutions has a strong track record of growth, driven by rising demand from sectors including construction, transport and utilities for products that support the transition to more cost-efficient clean energy sources. It operates both a rental, sales and service model and has increased revenues by 34% in the year ending 31 December 2023. During 2024, it has doubled its manufacturing and technical labour force to increase capacity and support further R&D. LDC is backing the business’s management team, led by Andy Richardson, Tom Cummins and Graeme Maxwell. The firm’s support will help Power Savings Solutions to cement its position in the growing battery storage industry and deliver a growth strategy underpinned by product development and diversification into new end markets. The investment was led by LDC’s East Midlands and East of England team, including Partner David Bains, Investment Manager Nicole Wong and Investment Director Simon Peacock, with David and Nicole joining the board as Non-Executive Directors. As part of the transaction, Gary Jacobson will join the business’s board as Non-Executive Chairman, bringing with him more than 20 years of sector experience from his time with Bifold Group and Rhino Products. Mike Marrison, formerly of LDC-backed equipment-as-a-service provider SRL Traffic Systems, also joins as a Non-Executive Director. Andy Richardson, CEO at Power Saving Solutions, said: “The last few years have been transformative. The investments we’ve made in our products and people have put us at the forefront of a growing market that is making the nationwide transition to cleaner energy sources possible. “When choosing an investment partner, I was immediately impressed by LDC’s commitment to the transition to net zero, as demonstrated by their partnerships with other ESG-focused businesses. With LDC’s assistance we believe there is a fantastic opportunity to continue to grow and take advantage of increasing demand for our products and services.” David Bains, Partner and Head of the East Midlands and East of England at LDC, added: “Battery storage has an essential role to play if the UK is to decarbonise its energy system by 2035. “Power Saving Solutions has established itself as a market leader, with a product set that enables customers to balance their existing generation with cleaner, more cost-effective options. We’re excited to support Andy and his team as they continue to grow across the UK.” LDC was advised by Gateley (legal), Grant Thornton (corporate finance), BDO (financial due diligence), CIL (commercial due diligence), BFY Group (energy), KPMG (tax) and Better Faster Growth (sales). Power Saving Solutions was advised by FRP Corporate Finance (corporate finance) and Jamieson Alexander (legal).

The Polish Club changes hands for first time in generations, breathing new life into the property

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The Polish Club changes hands for first time in generations, breathing new life into the property
The sale of The Polish Club has completed, breathing new life into a once thriving property. The 7,000 sq ft community building on Derby’s Kedleston Road is a property that many people will have visited over the years for parties, discos and all kinds of celebrations and get-togethers. Salloway Property Consultants were appointed by The Polish Catholic Mission to assist with selling the property with vacant possession. The premises, which comprise the former residential dwelling to the front and community hall to the rear, proved popular during the initial marketing period. “I am delighted that the sale has now completed,” said William Speed of Salloways. “As everyone will be aware, the property was under offer before to a special educational needs school. Sadly, planning permission was not forthcoming and the purchaser withdrew. “After approaching the under bidders, we quickly secured another purchaser to progress with the property, ensuring that as little time as possible was lost.” The Polish Catholic Mission were sad to see the property move on but were excited for what the future holds for the property. A representative said: “Whilst we are of course sad to say goodbye to a property that we have called our home for such a long time, we are excited for our next steps in Derby, a city we have called home for generations now.” Speed concluded: “There is still an acute shortage of good-sized lots on the market that are suitable for redevelopment for schools, nurseries, care homes, doctors’ surgeries or any other service providing occupiers. We would be delighted to hear from anyone considering selling similar sites.”

Leicester toy charity to make a difference this Christmas thanks to donation

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Leicester toy charity to make a difference this Christmas thanks to donation
Children in Leicestershire who don’t receive gifts at Christmas will now be able to enjoy some festive cheer, thanks to a donation to a local toy charity. Toys on the Table – which was set up 20 years ago – has been awarded the grant by Platform Housing Group. The donation was part of the social landlord’s yearly community kindness campaign, which will see it support 62 local specialist organisations, charities, food banks and events across its East Midlands communities, totalling £35,039.12. Overall the campaign will donate £82,135 this year. Bindya Mistry, Community Engagement Officer at Platform Housing Group, said: “We are so pleased to support the fabulous work undertaken by Toys on the Table, an organisation run purely by the goodwill of volunteers. “As a social housing provider, we have more than 3,300 homes across the city of Leicester and the wider county and it is very likely that many of these children will be receiving gifts from Toys on the Table. “It is heartwarming to think that our donation will ensure that those children who would otherwise have gone without this Christmas will wake up to a present on Christmas morning.” Toys on the Table was launched in the early 1980s, when Leicester Round Table established the project. In recent years it has become a separate independent registered charity, run by a Board of Trustees who represent community service organisations including Rotary International, Inner Wheel, the Society of Leicestershire and Rutland Golf Captains, together with workers and volunteers from both Leicester City Council and Leicestershire County Council Social Services. Last year the charity provided more than 3,500 presents. Referrals are made through a social worker or schools for children up to the age of 16 years. Mac Clarke, Chairman of Toys on the Table, said: “We are so grateful for the donation we have received from Platform Housing Group. The cost of living crisis has deeply affected families in Leicestershire and it is heartbreaking to think of children waking up on Christmas morning without a present. “As a charity we rely on donations and would like to say a heartfelt thank you to Platform for its support.” Other projects in Leicester and the wider county that have benefited from Platform’s Kindness Campaign include Zinthiya Trust, The Ark Warm Space Shelton, New Life Church Coalville Foodbank, The Bridge East Midlands and Leicester South Foodbank.

Inflation up for second month in a row

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Inflation up for second month in a row
UK inflation rose for the second month in a row in November, according to new figures from the Office for National Statistics (ONS). Measured by the Consumer Prices Index (CPI), inflation ticked up by 2.6% in the 12 months to November 2024, up from 2.3% in the 12 months to October. The largest upward contribution to the change came from motor fuels and clothing. Core inflation, meanwhile, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, rose by 3.5% in November, up from 3.3% in October. Martin Sartorius, Principal Economist, CBI, said: “Another consecutive monthly rise in inflation, reaching its highest level since March, underscores the persistent price pressures within the UK economy. Wage growth remains strong, and we expect that the policy measures announced in the Autumn Budget will contribute to higher prices next year. “Today’s inflation uptick reinforces our expectation that the Bank of England’s Monetary Policy Committee will leave Bank Rate unchanged tomorrow. Looking ahead, we anticipate a gradual, quarterly pace of rate cuts throughout 2025.”

Road Angel drives expansion with seven-figure deal

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Road Angel drives expansion with seven-figure deal
Nottingham-based In Phase International, manufacturer of the Road Angel dash cameras, has secured a seven-figure deal with HSBC UK to fuel its ambitious growth strategy and international expansion. HSBC UK funding is enabling Road Angel to expand its product range, increase stock levels, and meet the growing demand from customers in the UK and overseas. Road Angel has already established a strong presence in Europe, with dedicated office and warehouse facilities in Dortmund, Germany, supporting its rapid growth. Road Angel continues to see its market share increase year on year. The partnership with HSBC UK positions the company to launch an innovative new product range in 2025 and expand further into Europe, America, and Asia. With enhanced in-house warehousing and logistics capabilities, In Phase International predicts a 35% year-on-year increase in turnover, driven by the success of the Road Angel brand. Steve Digva, CEO of In Phase International, said: “This support from HSBC UK empowers Road Angel to accelerate our global growth ambitions. As a pioneer in British manufacturing, our dedication to innovation and market-leading products ensures we meet the evolving needs of our customers and remain at the forefront of our industry.” Jake Cannon, Relationship Manager at HSBC UK, added: “We are proud to support the growth of Road Angel and its parent company, In Phase International. Their success is a testament to the strength of British manufacturing and innovation. We look forward to seeing Road Angel continue to thrive both in the UK and internationally.”

Grimsby pharmacy sold

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Grimsby pharmacy sold
Specialist business property adviser, Christie & Co, has sold Cottingham Pharmacy in Grimsby, North East Lincolnshire. Cottingham Pharmacy is a standard hour’s community pharmacy in the well-regarded village of Waltham on the outskirts of Grimsby. Dispensing circa 10,500 items per month, this is a busy retail pharmacy with the benefit of an established e-commerce website selling circa £10,000 of OTC items with good margins included in the sale. Following a confidential sales process with Jon Booth at Christie & Co, and with funding sourced through David Ward at Christie Finance, it has been sold to husband-and-wife team, Isioma and Ezinne Honnah, who own Laceby Pharmacy nearby as well as another in Grimsby. The pair plan to work on synergising the offering of the three pharmacies for the benefit of the community in the area thanks to the proximity and similar catchment area. Isioma Honnah, the new owner of Cottingham Pharmacy, said: “This is a fantastic strategic acquisition for our family business, taking us to three contracts across the wider Grimsby area. “The village of Waltham, where the pharmacy sits, has a distinct but similar population to our existing pharmacy in nearby Laceby, and we look forward to expanding what we do there as well as enhancing the excellent business that we have acquired.” Jon Booth, Director – Pharmacy at Christie & Co, said: “On paper, this is the sweet spot of the market across the North of England – a standard hours pharmacy with low rent, over 10,000 items dispensing and good margins. “However, experience has shown that buyers can be a little bit harder to find for sites in these coastal locations which are a long distance from the large cities of Bradford, Leeds and Sheffield. “Whilst it took a bit of time to get the deal tied up, in the end, several parties were interested, and it is pleasing to see the deal now complete to Isioma and Ezinne – a pair of committed and hardworking local independents with already established contracts in the town. “I look forward to seeing how they progress with Cottingham which offers a great base to grow from and wish them the very best of luck with the new site.” David Ward, Senior Director at Christie Finance, said: “Having assisted Isioma and Ezinne with their initial purchase, working with them to help them acquire their third pharmacy has been particularly satisfying. “Lenders are understandably scrutinising businesses more closely and it is important to match each business with the appropriate lender to ensure that together we can meet their growth aspirations.” Cottingham Pharmacy was sold for an undisclosed price.

Grant Thornton agrees strategic investment with Cinven

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Grant Thornton agrees strategic investment with Cinven
Business and financial advisor Grant Thornton UK LLP’s partnership has unanimously voted in favour of a strategic investment from international private equity firm Cinven, which will accelerate Grant Thornton’s growth through additional capital and other resources. The firm will retain its partnership structure and ethos, but with external investment. Having grown significantly over recent years, the firm, which has offices in Leicester and Nottingham, has been exploring external capital to accelerate the next phase of its growth, allowing it to substantially invest in its talent and technologies. Having reached record revenue in 2023 (£654m), the firm is expected to surpass this in 2024 and, with the support of external investment, aims to reach £1bn over the coming years. Following a review of its strategic options over recent months, the firm’s partners have unanimously voted in favour of a strategic partnership with Cinven, owing to the two firms’ shared vision for Grant Thornton’s future success and complementary cultures. Cinven is one of Europe’s largest private equity firms and has been investing for more than 40 years. It has raised circa €50 billion funds. Malcolm Gomersall, CEO of Grant Thornton UK LLP, said: “The story of our growth journey over recent years has been remarkable. We’ve weathered some of the most significant macroeconomic events in history and we’ve come out of them even stronger, both financially and culturally. “The dynamics of our sector, both here in the UK and internationally, have also changed dramatically over recent years. We’re incredibly proud of the firm we are today, and we’re ready to write the next chapter in our story. “We recognise the opportunity that external investment can offer to help us further accelerate our growth, whilst retaining our partnership structure and ethos, and provide an outstanding experience for our people and clients. We’re therefore looking forward to partnering with Cinven. “We were attracted to their admiration of our commitment to high-quality service (particularly in our audit practice), our breadth of services, our client centric offering, the culture we foster at our firm and our growth plans.” Maxim Crewe, Partner and Head of Cinven’s Financial Services Sector team, added: “Grant Thornton’s reputation for quality, its stand-out culture and considerable financial performance in recent years provide a very attractive partnership proposition. “Through this investment we see considerable opportunity to further enhance the quality of the firm’s service to clients and build and nurture high-performance teams. We’re excited to work with the team as we support Grant Thornton to accelerate the next phase of its growth.” The firm has also announced plans to introduce an Employee Benefit Trust arrangement for many of its people below Partner grade to benefit from Grant Thornton’s long-term growth, comprising both cash and equity rewards. Also as part of the transaction, the firm’s partners have agreed to hold back a material amount of equity for future partners during the investment period – thus protecting the future generation of partners over the next few years. The terms of the proposed transaction between Grant Thornton and Cinven remain confidential. The transaction is expected to complete towards the end of Q1 2025, subject to regulatory approval, and other standard conditions.

Increasing wages pile pressure on business, says BCC

Stuart Pearcey
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New Office for National Statistics figures showing the pace at which wages are rising indicate tough times for business, according to Jane Gratton, Deputy Director of Public Policy at the British Chambers of Commerce. She says it will be a concern for businesses continuing to grapple with the increase in employment costs announced in the autumn Budget. The unemployment rate remains unchanged, showing ongoing challenges in the labour market. She said: “Higher employer National Insurance Contributions and an increase in the national living wage from next April mean firms are facing difficult decisions. Many say they will have to raise prices, put recruitment and investment plans on hold and look for other ways to reduce their costs. “Although the level of vacancies in the economy is now fast approaching the pre-pandemic level, this does not mean the recruitment crisis is over.  Our latest research shows that over three quarters of SMEs are still struggling to find staff with the skills they need. “With firms reconsidering their recruitment plans due to rising employment costs, there is a risk this could impact the labour market in the months ahead. But it is crucial the Government continues to take action to tackle the skills crisis, boost workforce health and ease economic inactivity.”

£9.5m allocated to economy-boosting East Midlands projects

Tess Egginton
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£9.5m allocated to economy-boosting East Midlands projects
The East Midlands Combined County Authority (EMCCA) has approved £9.5 million in funding to go to local projects that will help support economic growth for the region. The money comes from EMCCA’s Investment Fund and the authority has worked with partners to look at projects that can make an impact in the region that do important work to invest in homes, jobs, manufacturing, clean energy creation and greener spaces. The funding was discussed and approved on Monday 16 December at the EMCCA Board meeting in Mansfield. This batch of funding is set to go to the following projects: South Derbyshire Growth Zone (SDGZ) (South Derbyshire) Up to £1.5 million for the SDGZ to help to facilitate a new junction on the A50 Trunk Road which would enable plans to build 4,500 homes (with Garden Village status) and 3.45 million square feet of commercial floorspace, plus supporting infrastructure including a secondary school. Trent Clean Energy Supercluster (Bassetlaw) Up to £3 million to move delivery forward for the Trent Clean Energy Supercluster, which centres on three former coal-fired Power Stations located alongside the River Trent: West Burton, High Marnham and Cottam, all in Bassetlaw. The West Burton power station site in North Nottinghamshire will be home to the ground-breaking STEP prototype fusion energy plant. Fusion promises to be a safe, low carbon and sustainable part of the world’s energy supply with potential to help sustain net zero in the future. Derby City Urban Quarter (Derby) Up to £3.75 million for Derby City to transform priority areas to create a vibrant, sustainable, and accessible urban quarter. The funding will enable the wider project work to revitalise historic buildings, enhance transport infrastructure, create new homes and improve public realm. Broad Marsh (Nottingham) Up to £3.392 million for Broad Marsh in Nottingham to carry out demolition of part of the frame on the land near to the newly opened Green Heart. This will be an important step in helping to bring forward work on Broad Marsh which will, when complete, provide 1,600 homes and create just over 2,000 jobs, whilst providing a wide range of facilities, entertainment, and attractions. Infinity Park (Derby) Up to £1.5 million for a Research and & Development Facility within EMCCA’s Investment Zone to support advanced manufacturing and nuclear sectors. The project will provide services, facility hire and collaborative space to attract new supply chain businesses and inward investment. The funding from the Investment Fund will be used to repurpose existing space available on the Investment Zone site to enable the delivery of new research and development activities which would mean more jobs created. Avenue Site Southern Access (North-East Derbyshire) Up to £1 million for The Avenue (Wingerworth), which continues the delivery of one of the most ambitious and effective remediation projects ever undertaken in the UK. The Avenue has been transformed from one of the most polluted sites in Europe to a mixed-use development of sports pitches, nature reserve, housing development. This funding will go towards creating a southern access to the sites to deliver improved access for vehicles and pedestrians and enable future development. Mayor of the East Midlands, Claire Ward said: “These projects have been chosen for funding this year because their delivery will help boost the region’s economy. They will create jobs, help towards building homes, boosting local businesses and manufacturing, and produce cleaner energy. “We want to support and enable them to continue their work and help us towards achieving our vision for an East Midlands full of opportunities, from having good jobs, quality education, and thriving local economies. “We want to invest in vital projects, we can’t achieve the vision on our own, we need to work with partners across the region to invest in the right projects, projects that will make a real difference and this funding is just the start for the East Midlands.”

2025 Business Predictions: Rob Woolston, Director at rg+p

Tess Egginton
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2025 Business Predictions: Rob Woolston, Director at rg+p
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 Rob Woolston, Director at rg+p, the multi-disciplinary design practice. Earlier this year, someone told me that “2024 is a year to get through” before things started moving in 2025. This has certainly been the case. While 2024 has brought political stability, and elevated new homes to the top of the agenda, the property sector still awaits meaningful action. Two triggers to kickstart 2025 positively are:
  • The NPPF Update – which arrived as promised on 12th December, this has brought clarity on some of the government’s headline manifesto statements. Housing targets have been reintroduced; the definition of grey belt land is set out; the reintroduction of regional spatial strategies; and there is a requirement for Local Authorities to have an up-to-date Local Plan completed within a set time period. All of which will help provide more context and direction for preparing, submitting and ultimately, determining planning applications during 2025.
  • Affordable Housing Boost – the Spring Spending Review must deliver a significant financial programme and long-term rent settlement for affordable housing providers to give them the confidence to raise investment capital and commit to future development. This needs to come with a quick mechanism to put any new programme in place and should prioritise social rent schemes which have been identified as key to the delivery of the pledged 1.5m new homes.
Alongside these, the housebuilding industry must contend with the increase in stamp duty, which will place further pressures on private housebuilders who are already facing a tough market following an anti-growth Budget that reduced the potential for any further short-term interest rate cuts. While this might sound pessimistic, the simple fact is within their first six months, the government has failed to deliver the boost the industry so desperately needs. We now have a stable political position, which will provide investor confidence, but urgently need the policies and funding to move development forward. I think 2025 is best described as a game of two halves. The first will be the frustrating wait for the actions I outline above, and the second, I hope, will be the noticeable uptick in activity that will go on to deliver against those ambitious promises.

Shorts appoints Chesterfield-based Tax Partner

Stuart Pearcey
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Shorts appoints Chesterfield-based Tax Partner
Shorts has appointed Craig Walker as Tax Partner with effect from 1 December, joining existing Tax Partners Chris Chambers, Scott Burkinshaw, and David Robinson and working from the company’s Chesterfield office. Responding to a decade of sustained growth, the appointment of Shorts’ fourth Tax Partner supports the company’s continued commitment to growing the Tax department and underpins the firm’s continued development and strength. An experienced Chartered Tax Adviser and member of the Society of Trust and Estate Practitioners, Craig has over 20 years’ tax experience at large regional firms and a top 15 firm, and he rejoins Shorts twelve years after previously completing his early tax training at the firm. An enthusiastic advocate for his hometown of Chesterfield, Craig will advise clients on all areas of UK taxation with a particular focus on Private Client work. Going forward, his role will transition progressively towards taking a more active role in the leadership and strategy of the firm, in particular within the Private Client team as Chris Chambers moves towards retirement. Craig said “I am thrilled and honoured to be joining the team at Shorts, during such an exciting time in the firm’s growth and history, and I am proud to take this next step on my professional journey. I am very much looking forward to working with the leadership team.”  
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