Home staging firm secures £250,000 funding package

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Home staging firm secures £250,000 funding package

A home staging firm based in Melbourne, Derbyshire, has secured £250,000 backing from MEIF Maven Debt Finance.

Lemon and Lime Interiors was launched in 2015 and specialises in transforming high-end properties, doing everything necessary to prepare them for sale.

With growth ambitions across staffing, marketing and service offering, the team have since appointed two new senior staff members in finance and marketing with further sales and operational roles and serviced locations to come.

With UK mortgage rates predicted to drop and house prices starting to soften, more buyers are expected to be active on the property market. However, prices still remain high relative to earnings, and therefore, in order to sell, staging is expected to be in higher demand during 2024.

With expanding services and premium agent partnerships, Lemon & Lime has supported more than 850 occupied and vacant home stagings, achieving sales up to four times faster than comparable properties – often above the asking price.

Elaine Penhaul, founder and director of Lemon and Lime Interiors, said: “The core mission of our business is to ensure speedier transactions and higher prices for property owners, developers and estate agents. We’re focused on creating waves in the industry in order to change outdated and unhelpful marketing tactics currently overused in the property sector.” Richard Brighty, investment manager at Maven, said: “Lemon and Lime is an innovative and award-winning team servicing the Midlands and beyond. It has a unique market proposition and is the perfect example of the type of ambitious and forward-thinking company we aim to support. “Elaine is a very accomplished leader and inspirational to her staff and customers, it has been a privilege to work together as we mark our 100th new customer milestone.

“Maven Capital Partners are proud to have successfully delivered the MEIF East Midlands debt fund since 2018, supporting 100 SME businesses with growth capital, investing over £45 million and creating over 650 jobs across the region.”

High costs and access to capital stifle Midlands business growth

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High costs and access to capital stifle Midlands business growth

High costs and difficulty accessing capital continue to stifle growth for Midlands businesses, according to new data from accountancy and business advisory firm, BDO.

BDO’s latest bi-monthly Economic Engine survey of 500 mid-sized businesses has revealed that cost pressures will remain a significant challenge for regional companies over the next six months, with half of businesses (50%) concerned about higher operational costs, including rent, energy bills and the cost of borrowing.

More than a third of regional businesses (40%) admit that sourcing new capital from private and public sources is a top concern, with 39% stating that they will struggle to expand their business in the coming months, through entering new markets or increasing their physical footprint.

Ahead of next month’s Spring Budget, Midlands businesses are calling on the Government to address ongoing issues around costs, skills and taxes.

The survey showed that nearly half of regional businesses (44%) would like to see more support to resolve ongoing staff and skills shortages, including reforming the Apprenticeship Levy and placing greater focus on helping working parents, with more than a third (39%) calling for better access to private capital and government grants.

Kyla Bellingall, regional managing partner at BDO in the Midlands, said: “In what could be the last Budget before a general election, the Government has a real opportunity to place growth and the interest of businesses at the centre of its announcement.

“Time and again, Midlands businesses have called on the Government to act with greater purpose on key areas such as costs, access to capital, and skills. However, tax remains a real thorn in the side for regional businesses, they want to see more Government resources to help businesses in the mid-market, including within HMRC.

“What’s more, Midlands businesses want long-term reform to streamline or lower business taxation, such as overhauling business rates, or cutting corporation tax.”

Despite the calls for reform, businesses in the region do not anticipate a reduction in corporation tax in the near future, with more than half (66%) believing the overall tax burden on their business will remain the same between now and 2025/26, with nearly a quarter (23%) anticipating that it will rise.

Bellingall added: “Encouragingly, when you place the Budget and Government support aside, the appetite for growth from Midlands businesses remains strong. Our survey shows the key to growth for many businesses over the next six months will include workforce improvements, business investment, and expanding internationally.

“There’s no doubt that trading conditions remain extremely difficult for Midlands businesses, with significant challenges remaining. However, with the right support from the Government mid-sized companies in the region will continue to be the driving force behind the UK’s economic recovery.”

Blueprint Interiors strengthen pre-construction team

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Blueprint Interiors strengthen pre-construction team
Workplace consultants and commercial office fit-out specialists Blueprint Interiors has strengthened its pre-construction team following the appointment of Hamzah Khalid as a Pre-Construction Assistant. Khalid holds a Bachelors Degree in Construction Management & Property Development from The University of Derby. He was previously a graduate Quantity Surveyor at Prestige Retail Ltd where he collaborated with prestigious retail consultancy firms, managing projects for clients such as B&Q and Specsavers. He has helped to successfully deliver projects that included internal fit-outs, new builds, extensions, demolitions, roof work, masonry walls, and installations. In his new role at Blueprint Interiors, Khalid will proactively ensure the programming of works, plan resource allocation for daily operations, and maintain quality standards. This will include the preparation of quotations, purchase orders and site deliveries, site surveys, maintaining subcontractor and supplier relationships and preparation of technical information. Hamzah said: “I am delighted to be joining such a forward thinking and growing organisation in which I can see a clear structure for my future career. I am looking forward to the opportunity to develop and excel in an exciting role for a company that clearly has the best interests of employees at the heart of their culture.” Rachel Biddles, Operations Director, added: “This year has seen phenomenal interest in our workplace design consultancy, as employers seek to create work spaces that not only attract but retain the best talent. Hamzah will be integral in helping us to ensure the design visual is delivered so that we continue to maintain our quality of service, the finished workspace meets expectations and delivers that all important wow factor.” With a number of new and exciting office fit-out wins already secured, and a strong pipeline of workplace consultancy and design projects underway, 2024 has got off to a great start for Blueprint Interiors who have previously completed projects for a number of the regions larger employers including The Melton Building Society, Futures Housing Group, Gleeds and The East Midlands Chamber.

Red Sea disruption causes severe headaches for UK businesses

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Red Sea disruption causes severe headaches for UK businesses
Increases in costs and delivery times caused by shipping disruption in the Red Sea are causing headaches for UK businesses according to new research by the British Chambers of Commerce. Issues cited by firms included increased costs, with some reporting rises of 300% for container hire, and logistical delays, adding up to three to four weeks to delivery times. Firms also said this was creating knock-on effects such as cashflow difficulties and component shortages on production lines. William Bain, Head of Trade Policy at the BCC, said: “This research gives us immediate insight into the impact of Red Sea disruption on UK businesses. “There has been spare capacity in the shipping freight industry to respond to the difficulties, which has bought us some time. And recent ONS data also indicates the impact has yet to filter through to the UK economy, with inflation holding steady in January. “But our research suggests that the longer the current situation persists, the more likely it is that the cost pressures will start to build. “Certain sectors of the economy are obviously more exposed to this than others. But with the recent introduction of the Government’s new customs checks and procedures for imports also adding to costs and delays, it is a difficult time for firms. “The UK economy saw a drop in its total good exports for 2023, and with global demand weak, there is a need for the Government to look at providing support in the March Budget. “We are calling for the establishment of an Exports Council to hone the UK’s trade strategy and a review of the effectiveness of government funding for export support. “Overseas trade is vital to growing our economy. We must do everything we can to see businesses through these tough times, and then set a laser-sharp focus on expanding exports for the future.”

Ashby de la Zouch logistics firm ups bid for Wincanton

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Ashby de la Zouch logistics firm ups bid for Wincanton
Ashby de la Zouch-based CEVA Logistics UK Rose has upped its offer for Wincanton, as a competing bidder comes forward for the firm. In a statement to the London Stock Exchange Wincanton said that its directors “continue to recommend unanimously to Wincanton shareholders the increased and final cash offer by CEVA Logistics UK Rose Limited.”

The increased offer values the entire issued and to be issued share capital of Wincanton at approximately £604.7 million on a fully diluted basis and values Wincanton at approximately £802.7 million on an enterprise value basis. The new bid represents an increase of approximately 6.67 per cent on the original offer.

Wincanton, listed on the premium segment of the Main Market of the London Stock Exchange, is a British supply chain solutions company. The Wincanton Group provides business critical services including storage, handling and distribution; high volume eFulfilment; retailer ‘dark stores’; two-person home delivery; fleet and transport management; and network optimisation for many of the UK’s best-known companies.

With almost 100 years’ heritage, Wincanton’s approximately 20,300-strong team operates from more than 170 sites across the country, responsible for approximately 8,500 vehicles.

CEVA is a third-party logistics firm, providing global supply chain solutions to connect people, products and providers all around the world. CEVA is part of the CMA CGM Group, CMA CGM being a global player in sea, land, air and logistics solutions, serving more than 420 ports around the world across five continents, with a fleet of around 620 vessels.

Frasers Group appoints new directors to board

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Frasers Group appoints new directors to board

Shirebrook-based Frasers Group has appointed a number of new directors to its board.

Helen Wright, Global CEO, Sergio Rossi, will be appointed as non-executive director, and Frasers’ David Al-Mudallal, chief operating officer, and Ger Wright, managing director, sports, join the board as executive directors.

The Group has also announced the intended appointment of Sir Jon Thompson, former CEO, Financial Reporting Council, as non-executive director. It is expected that Sir Jon will be appointed later in the year, when his current commitments allow.

David Daly, chair of the board, Frasers Group, said: “Much has changed at Frasers over recent years and today is another significant milestone in our transformation as we welcome new high-calibre individuals to the board.

“I know that we will benefit from their leadership and expertise. I’m also delighted that their appointments further diversify our board, ensuring that we have the range of skills and views required to enable the future success of the Elevation Strategy.”

Michael Murray, CEO of Frasers Group, said: “Today’s appointments reflect the progress we have made to date on Frasers’ transformation and Elevation Strategy, as well as our ambitions for the future of the Group.

“I am pleased to welcome Helen Wright to Frasers and to the board and very much look forward to welcoming Sir Jon later this year. Helen’s experience of driving transformation at global luxury brands, combined with Jon’s expertise in corporate governance and major project management, will help shape the execution of our long-term strategy.

“In addition, Ger and David have both made enormous contributions to the ongoing success of our strategy, delivering operational excellence and empowering our business to excel. I am confident that their contribution to the board will help drive Frasers Group to new heights and future success.”

Investment provides ingredients to enhance support for East Midlands food businesses

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Investment provides ingredients to enhance support for East Midlands food businesses
Investment in the latest technology and equipment is to allow experts at the University of Nottingham to enhance support for East Midlands food and drink businesses.
Scientists from across the School of Biosciences have received £650k investment from Regional Innovation Funding for a range of projects that will support industry with the development of new alternative proteins and food and drink products. There are an estimated 857,000 jobs linked directly to the food chain in the Midlands region, equal to 17.6% of all employment. The region has particular strength in both agriculture and food and drink manufacturing with a diverse range of SMEs and larger business delivering a wide range of products and services. With this new investment, experts at the University of Nottingham will have access to improved facilities and tools to support businesses with their product research and development needs, particularly for cultivated meat, plant-based, and insect-based products. The projects that have received funding are:
  • The facilities for cultivated meats and alternative proteins will be refurbished to create a Cellular Agriculture Hub for the Midlands. The hub will provide specialist training on cellular agriculture methods and product testing for local East Midlands businesses.
  • A new In Vitro Digestion Laboratory will be created to provide high-throughput screening of human food and animal feed additives using alternative protein sources including insects and alternative crops.
  • The Food Innovation Centre has been recently re-launched and can support businesses in the East Midlands with new product and process development, innovation audits and business growth, including access to a range of specialist facilities. The addition of a new Bench and Chiller unit will enable high moisture meat analogues that will be particularly useful for plant and alternative protein businesses locally.
The funding will also allow the International Research Flavour Centre at the University of Nottingham to invest in a new tool that can analyse the complex aromas of food. This will develop the unique capacity to screen large numbers of food and drink samples, with high level of precision and accuracy, enabling SMEs to engage with IFRC with limited on-cost and high levels of knowledge exchange. It will also support the development of educational resources to support the next generation of scientists and workers in the food and drink sector. Professor Phil Williams, Faculty of Science APVC for Research and Knowledge Exchange, said: “The work the university does with the food and drink sector is a vital part of supporting this thriving local economy. “This investment will enhance what we can offer in terms of technological support and ensure our experts are working with the very latest equipment to help businesses stay at the forefront of product development. As the food and drink market continues to diversify at pace and with sustainability high on the agenda we are able to help businesses develop the products of the future.”

Practical completion achieved at Long Eaton commercial development

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Practical completion achieved at Long Eaton commercial development

Practical Completion has been achieved at Stadium Retail Park, a commercial development in Long Eaton, Derbyshire, that will be home to new locations for Lidl GB and Wickes. The site has been brought forward by Clowes Developments.

IMA Architects (IMA) has worked with Clowes Developments to provide all architectural services and act as Principal Designer on the scheme. The company has also worked alongside Millward Consulting Engineers and Roe Developments to deliver the site for Lidl and Wickes. The retailers will now bring in their own teams to carry out the bespoke fit out of the two stores.

The 1.68-hectare Stadium Retail Park site has been built on a brownfield former industrial site that was derelict since 2014, located just off Nottingham Road. All amenities, landscaping and boundary treatments are now in place including car parking for 170 vehicles, including EV charging, parent and child parking and disabled spaces, and a service yard.

It is expected that the new Wickes store will open before the Easter Weekend, and that the Lidl supermarket will open this summer.

Marc Freeman, Director at Clowes Developments, said: “The site had been derelict for 10 years and in the planning stage since 2018, so it’s positive that the site has now been developed and turned into an asset for the local community, creating jobs and bringing economic benefits to the town. We are sure the new Lidl and Wickes stores will be very popular.”

Joe Travers, Associate Director at IMA Architects, said: “This is our latest project with Clowes Developments, and we are pleased that the site has been delivered on time and will soon be a thriving retail location.

“Given the close proximity of residents, we were considerate to their needs throughout the construction phase and our designs for the site include additional landscaping, boundary treatments and acoustic mitigation measures to improve aesthetics and to ensure the scheme does not adversely impact people going forward.”

Sarah Taitt, Property Director at Wickes, said: “We are looking forward to opening our doors in Long Eaton in the coming months. We have been involved in the creation of the site from inception to completion which has meant that we could develop a location that perfectly suited our needs, and we are delighted with our new store at Stadium Retail Park.”

Lidl GB’s Regional Head of Property, Dominic Bryan, said: “There’s been much anticipation for this new Lidl store and it’s great that we are now able to enter the next stages of development. We are extremely grateful for all the support we have received so far and look forward to bringing our high quality and best value produce to the local community.”

Egg producer to make substantial investment in Leicestershire manufacturing site

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Egg producer to make substantial investment in Leicestershire manufacturing site
Egg producer, Noble Foods is embarking on its next venture with a substantial investment in an added-value manufacturing site. In addition to recent acquisitions in animal feed and agriculture, this strategic move, set to begin production in the summer in Leicestershire, signifies Noble Foods’ decision to diversify its offerings and expand its Consumer Foods business beyond traditional shell egg. Noble Foods aims to build on its legacy at the new 10,000 sq m manufacturing site by introducing a range of pre-prepared foods using eggs. At its peak, the site has the potential to use over 1.6 million eggs per week. Aimed at the retail, Quick Service Restaurant (QSR) and wholesale market, foods including omelettes, egg bites, and frittatas will be made at the site, with a pipeline of innovative new egg-products already in development. Will Cadbury, Added Value Business Lead at Noble Foods, said: “I’m excited that our new investment will help us in our ambition to create more egg-based foods, in different formats, so that more people can enjoy eggs throughout the day.” “We already know that eggs are one of the most versatile and nutritious foods, with the lowest carbon output of any animal protein,” Will continued. “This aligns brilliantly with our purpose ‘To better nourish people, animals and planet’ and our investment will really help to accelerate that, by providing more eggs, for more people, on more occasions.” The Leicestershire manufacturing site, formerly dedicated to producing desserts, will offer up to 150 jobs in its phased opening. Will added: “Opening a new facility is a big moment for all of us at Noble Foods and I can’t wait to see the products coming off the line in the coming months. It’s fantastic that our investment will create new jobs in Leicestershire too, and opportunities for colleagues to develop their careers. “We will be bringing nutritious and convenient products to our customers, several of whom already share our excitement. Combining our deep understanding of farm to fork, along with food and manufacturing experience, gives our customers the confidence they’ll be benefiting from qualities synonymous with Noble Foods.”

Kitchen company director sentenced for misleading customers

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Kitchen company director sentenced for misleading customers
A kitchen company director who misled customers and left them thousands of pounds out of pocket has been sentenced following a successful case brought by Derbyshire County Council’s Trading Standards team. Sonny Shacklock, who ran and was the director of Sonna Kitchens Ltd, based in Chapel Street, Belper, admitted 10 charges of breaching the Consumer Protection from Unfair Trading Regulations 2008 at a hearing in December 2023 at Southern Derbyshire Magistrates’ Court. Shacklock (40), of Lambert Road, Grimsby, was charged personally in his role as director of the business – 9 charges for unfair misleading actions (claiming customers’ money was protected) and one charge of unfair trading, for failing to meet professional diligence across the period of offending, all under the Consumer Protection from Unfair Trading Regulations. Earlier this week (21 February 2024) at Derby Crown Court Judge Hurst sentenced Shacklock to 8 months imprisonment suspended for 18 months, 150 hours unpaid work requirement, and disqualification from acting as a company director for 5 years. Derbyshire County Council’s Trading Standards team became aware of problems with Sonna Kitchens Ltd when they were contacted by customers who either had partial work done, or no work at all, by the business, despite paying large amounts of money to replace their kitchens. Nine witnesses said they had been told when arranging the kitchen contracts that their deposits were safe as they had been told the business used an insurance policy to protect payments. These policies were not created, and the money remained unprotected. As a result of the breaches of contract, in total, the customers are owed more than £59,000, which they cannot recover through civil recovery due to the company’s insolvency. Cabinet Member for Health and Communities Councillor Carol Hart said: “The sentence handed down by the court sends out a strong message that this kind of underhand trading will not be tolerated and will have serious consequences. “We very much welcome the sentence which comes after a thorough investigation by our Trading Standards officers who investigated complaints received about this company. “It is very sad and frustrating that the customers left out of pocket have no route to go down to recoup their losses but I hope they can take some comfort in knowing that this dishonest businessman has been successfully prosecuted for his actions.”
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