Millions to be invested in net zero glasshouse development near Lincoln

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Millions to be invested in net zero glasshouse development near Lincoln

A new net zero glasshouse research and development facility is set to be built on the University of Lincoln’s Riseholme campus.

The Greater Lincolnshire LEP is providing a grant of £1.3m for the project, and the University of Lincoln is providing a further £889,000 bringing the total project cost to just over £2 million. This new purpose-built glasshouse will offer access to specialist research infrastructure and innovation support services. This will allow SMEs and other businesses in the agricultural sector to adapt or improve their products or services. The glasshouse will be sub-divided into independently controlled compartments, facilitating the delivery of multiple projects at the same time throughout the year. The Greater Lincolnshire LEP’s proposed Agricultural Growth Zone, designed to support Greater Lincolnshire agriculture and the delivery of the UK Food Valley, will benefit from the addition of the glasshouse facility as it will provide a space for collaborative research and innovation. The research and development infrastructure will also be used for the new AgriTech Incubator established by the university in partnership with Barclays Eagle Labs. Eligible businesses will have access to research and knowledge transfer opportunities from experts at the University of Lincoln who will support businesses within the industry to adopt new technology, implement new processes and develop new products to transition into modern, technology-enabled businesses. Sarah Louise Fairburn, chair of the Greater Lincolnshire LEP Food Board, said: “This project will support those innovative businesses in Greater Lincolnshire that are working on agricultural and horticultural technology. “The university’s Agri-Tech Incubator will establish a pipeline of businesses who require access to R&D facilities within a professional glasshouse environment, supporting future growth of the agri-tech cluster and ambitions of our UK Food Valley.” Professor Simon Pearson, director, Lincoln Institute for Agri-Food Technology (LIAT), said: “This is a critical new facility that complements the world-class research and innovation facilities already in place at the University of Lincoln’s Riseholme Campus. “It will support research, innovation and skills development for the Local Enterprise Partnership and the national horticulture sector, and the investment will focus on the development of novel renewable sources for glasshouse production. These will, in turn, reduce emissions and mitigate the sector’s dependency on fossil fuels.”

Acres of poppies planned for Remembrance by Derby firm

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Acres of poppies planned for Remembrance by Derby firm

Derby-based Acres Engineering has embarked on a major initiative to raise money for the Royal British Legion (RBL).

The family firm, which is based in Melbourne and counts some of the world’s biggest names in rail, automotive and aerospace as its customers, is creating a 3-petal poppy for Remembrance Day, with all profits going to the RBL.

The idea was conceived whilst hosting a range of STEM activities at their recent open day to mark National Manufacturing Week.

As part of the event, Acres invited students from local schools to manufacture and take home their own poppy in order to understand the significance of Remembrance.

Acres themselves have a long and proud association with the armed forces as a Gold member of the Armed Forces Covenant.

This is an agreement that those who serve or who have served in the armed forces, and their families, should be treated with fairness and respect in the communities, economy and society they serve with their lives.

“We plan to manufacture at least 2,000 poppies,” explains Acres Engineering’s MD Luke Parker, “but we hope to actually make many more if the demand is there from our clients, suppliers, friends of the firm and other like-minded supporters, which we believe it is.

“Growing up in the local area I attended Ashby School and I was stunned when I learned that 144 ex-students are remembered each year from my old school alone. As such, we are ring fencing 144 of the initial run and donating them to Ashby School for their Remembrance garden.”

The project has been endorsed by veteran Brigadier Edward Wilkinson of the Worcestershire and Sherwood Foresters Regiment who added: “This Poppy will be a lasting memory wherever it is placed due to its construction. Its longevity will be a reflection of our Remembrance. It is fantastic what Luke Parker and Acres Engineering are doing to raise money for the Royal British Legion.”

The Acres Remembrance Poppy is available in single, large or bulk orders via their online shop.

Fall in corporate insolvencies a ‘false dawn’

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Fall in corporate insolvencies a ‘false dawn’

A surprise decrease in the number of insolvent businesses in England and Wales should be viewed with caution and is far more likely to be a ‘false dawn’ than an indication of economic recovery.

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 decreased by 15.2% in September 2023 to a total of 1,967 compared to August’s total of 2,319, but when compared to September 2022’s figure of 1,688 they increased by 16.5%.

The government statistics also indicate that corporate insolvencies increased by 35.4% from September 2021’s total of 1,453 and by 112% from September 2020’s total of 928. There is also a rise of 30.4% compared to the pre-pandemic figure of 1,509 in September 2019.

R3 Midlands chair Stephen Rome, a director at law firm Thursfields in the region, said: “The September 2023 numbers are the highest we’ve seen for this month in four years as a combination of economic issues, director fatigue and the post-COVID insolvency lag see a rising amount of firms use corporate insolvency processes to resolve their financial issues.

“Compared to September 2022, more directors have turned to Creditors’ Voluntary Liquidations to wind down their businesses and more creditors have turned to Compulsory Liquidations to recover the debts they are owed. While the statistics for these processes are higher than they were pre-pandemic, administration numbers have yet to return to 2019 levels, although they are higher than this time last year.

“It’s clear that the challenging trading climate is taking its toll. Businesses are operating in a climate where people are cutting back on their spending on non-essential items, while at the same time the costs of operating a business remain high – and will only increase as the weather gets colder and the cost of borrowing and servicing existing debts get more expensive.

“Our message to company directors is simple: if you’re worried about your business, seek advice. It’s a hard conversation to have, let alone start, but you’ll have more options open to you and more time to take a decision if you begin it when your worries are fresh, rather than when they’ve spiralled.”

Magma make five promotions

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Magma make five promotions
Magma Chartered Accountants has made five promotions across their Rugby and Leicester offices. The promotions are across the firm’s Audit, Business Services and Corporate Finance teams. In Audit, Luke Edwards becomes associate director, Kaylee McCarthy becomes senior manager and Laura Vincent is promoted to assistant manager. Within the Business Services team Emma Steptoe has been promoted to senior manager, and Chris Matthews becomes senior manager within the Corporate Finance team. For Luke, Kaylee, Laura and Emma who have all been with then firm for several years, their promotions mark the latest stages of their progression within the firm. Chris’ first Magma promotion follows a successful spell in the firm’s Corporate Finance team. Mark Tuckwell, managing partner, said: “Individual progression is at the heart of the business’s own success and these further five, well-deserved, promotions highlight our continued and exciting trajectory.”

Pall-Ex makes corporate sales director appointment

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Pall-Ex makes corporate sales director appointment
Leicestershire freight distribution network Pall-Ex has appointed Bridie O’Halloran as corporate sales director. Bridie brings with her a wealth of experience, boasting 30 years in sales, 23 of those in logistics, with a background of managing sales teams in renowned logistics companies such as Target Express and Parcelforce. In her new role, Bridie will build a robust pipeline of corporate accounts and travel across the UK to engage with customers and promote Pall-Ex services. Key responsibilities include focusing on new business and exploring diverse sectors – with the aim to grow market share significantly. Michelle Naylor, commercial director at Pall-Ex, said: “We are thrilled to welcome Bridie to our team. Her extensive experience and proven track record in sales and logistics will undoubtedly drive Pall-Ex to new heights. We look forward to achieving market share growth and enhancing our presence in various sectors under her leadership.” Starting her sales journey as a door-to-door salesperson selling double glazing, she transitioned into logistics as an international coordinator. Bridie’s dedication and leadership qualities saw her rise to the position of area sales manager at Target Express, where she managed sales teams and earned numerous awards over 11 years. Bridie expressed her enthusiasm, saying: “I’m delighted to join Pall-Ex, I was especially drawn by the passion and commitment of the team I met during the interview process. The member-owned structure of the company and the advanced IT capabilities, notably the impressive tracking and ETA features, were also key factors in my decision. I’m looking forward to contributing to the company’s success.”

Food and drink manufacturers remain confident despite mounting challenges

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Food and drink manufacturers remain confident despite mounting challenges
Eight in 10 (81%) leaders in the UK food and drink sector feel positive about the prospects of the industry over the coming year, but mounting pressures including the twin threats of higher energy costs and constraints on consumer spending will continue to test businesses’ resilience, accountancy and business advisory firm BDO LLP has warned. BDO’s annual Food & Drink Report, which surveys manufacturers in the sector, reports a high degree of optimism among food and drink manufacturers. Although down slightly on last year (78%), 70% of respondents are feeling positive about the future of their own business in the next 12 months. This is buoyed by the big jump in optimism for the sector overall which has increased from 69% in 2022 to 81%. Over a third (40%) expect an increase in their gross profit margins over the coming year and, as the buoyant mood continues, a further quarter (24%) are planning acquisitive purchases. Almost a third (30%) say new product development will be a key driver for growth across the next 12 months, whilst 29% say expanding in non-European Union (EU) markets is a key focus. Despite the confident outlook, BDO’s survey highlights the myriad of challenges businesses in the sector are facing. Half (50%) of the respondents reported difficulties in recruiting the people they need, with engineering and project management or production-related roles the hardest to fill. Almost two fifths (39%) of those experiencing recruitment challenges believe skills shortages are worse now than before Brexit and COVID-19. Digital transformation remains a key area of investment to boost productivity and gain competitive advantage. The majority of respondents state their executive teams recognised the importance of this, however 60% aired concern that they were falling behind on their digital transformation journeys as firms grapple with unswerving economic headwinds. In addition, 28% say they are taking on higher levels of debt to counteract inflation. The Ukraine conflict continues to affect 65% of businesses in the survey. According to the BDO report, overly complicated import-export rules are cited as reasons for hampering trade. Almost two thirds (63%) are finding it hard to trade with Northern Ireland via the Trader Support Service, with a further 69% struggling to use preferential origin under the UK’s Free Trade Agreements. Cindy Hrkalovic, head of food and drink at BDO, said: “After enduring Brexit, COVID-19, supply chain disruption and a cost-of-living crisis brought on by a war in Ukraine, food and drink businesses should be applauded for the resilience and adaptability they have demonstrated. “However, the long-term nature of many of the threats facing UK food and drink companies suggests that leaders will need to stay flexible and think strategically about the future of their businesses. Sticking-plaster measures from businesses or government will not suffice in an environment where a return to normality – whatever that is – remains elusive.” Food and drink is the biggest manufacturing industry in the UK with a turnover of £128bn and exports worth £25bn. The sector employs 456,000 people in the UK, with its supply chain employing a further 4.3m people.

Proposals for Edwalton Community Hall given green light

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Proposals for Edwalton Community Hall given green light
Plans for a new Community Hall in Edwalton that will benefit many of its new communities and wider West Bridgford have been given the green light. Rushcliffe Borough Council’s (RBC) Planning Committee approved proposals that will see the site home to a meeting room, open plan community room, kitchen, publicly accessible toilets for use by allotment and community park users and a small storage facility for the potential use by Friends of Sharphill Woods. The new hall located off Rose Way could create nine full time employment positions. With environmental considerations in mind, a PV Solar array will be positioned on its south facing roof and an air source heat pump installed to ensure the structure is as carbon clever as possible. 27 parking, six disabled spaces and five cycle spaces will be created as part of the development. RBC’s Cabinet Portfolio Holder for Transformation, Leisure and Wellbeing Cllr Jonathan Wheeler said: “This is great news for Edwalton and the wider West Bridgford community. “The new centre will be a great new venue to hold events, meetings and celebrations for residents living in newer communities in Edwalton and those in adjoining neighbourhoods in the area and West Bridgford. “It will also be home to a storage facility for Friends of Sharphill Woods, supporting their ongoing efforts and first Green Flag Award earlier this year. “We are of course mindful of residents’ needs with further infrastructure such as this when the Borough grows as it has significantly in this location. “It accompanies our capital programme elsewhere in the Borough with the £20m invested in Bingham Arena recently and over £2.5m of improvements at Leisure Centres in Keyworth and Cotgrave in the coming years to enable them to remain both financially and environmentally sustainable.”

£330k awarded in Leicestershire to develop pioneering approach to creating new business from university ideas

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£330k awarded in Leicestershire to develop pioneering approach to creating new business from university ideas
Innovation partners in Leicester and Leicestershire have been awarded £330k by Research England to develop a pioneering approach to creating new products, services and business from university ideas. The three universities of Leicestershire, alongside business partners are amongst a small number of projects to be selected by Research England to deliver on novel approaches to commercialise their research. Innovation Catalysed & Enabled (ICE) Leicestershire will create new accelerated pathways for university intellectual property and ideas. The University of Leicester, Loughborough University and De Montfort University will share IP and ideas with a community of businesses, graduates and students adopting an open innovation approach to sharing, testing, and developing business concepts. The target is to deliver novel products, services and businesses and energise the innovation culture of the city and county. The project will build connections with businesses and create opportunities for students to deploy and develop skills, build experience and catalyse enterprise. The delivery and success of the model will be reviewed and documented in order to deliver a scalable model capable of deployment across the UK. William Wells, Deputy Director of the Research & Enterprise Division at the University of Leicester, said: “The approach we will be adopting is genuinely novel and innovative in itself. It is possible because of the very close working relationships between the county’s university partners and effective co-design with the start-up community and local enterprise partnership. “Following the loss of European Regional Development Funding, this investment is a real boost to the local economy and will stimulate exciting new ways of working that Leicestershire needs.” Dr Nik Kotecha OBE DL, Chair of Innovative Leicestershire, said: “The Innovation Catalysed & Enabled (ICE) Project being led by the county’s three universities aligns powerfully to our strategic aims, as it will unlock the skills, knowledge, energy and networks within our local innovation eco-system. We are alert to, and champion, the significant innovation assets within our county, yet this is presently not exploited to the fullest potential. “We have low levels of investment in R&D in Leicestershire and low proportions of technology driven, export intensive businesses. Our region is also underserved by public investment overall, with the lowest level of public spending per head in the UK. “This initiative is potentially transformational, as it seeks to challenge and tackle some of these key issues, and we stand ready to make the most of this opportunity.” Professor Richard Thomas, Deputy Pro-Vice Chancellor for Research and Enterprise at the University of Leicester, said: “The Innovation Catalysed & Enabled (ICE) project led by the University of Leicester in partnership with the county’s other universities builds on the economic impact that our innovation projects have on the regional community. “It is aligned with the development of a regional patient capital fund, Midlands Mindforge which will be investing in innovative regional businesses. “We are really pleased that Research England has chosen to invest in innovation in our city and county and we look forward to developing best practice which can be further exploited here and in other parts of the country.” Professor Mike Kagioglou, Pro Vice Chancellor for Research and Business Innovation, said: “As an impactful university rooted in our community, DMU is proud to be part of this project and work with colleagues at Leicester and Loughborough to help bring new ideas to market through this programme. “This collaboration will make it quicker for new businesses to commercialise the intellectual capital within the three universities to positively impact business growth in our region through research and innovation.” Professor Dan Parsons, Loughborough University Pro Vice Chancellor Research and Innovation, said: “Across the region we have a vibrant research community with a strong track record collaborating on innovative research that turns ideas into successful businesses. “This project helps create an ecosystem to better support our research entrepreneurs and encourage innovation. By cultivating an environment where postgraduate students and researchers with commercial ideas can benefit from accelerated pathways for IP leading to impact, we can create opportunities for our people, place and partnerships to flourish.” De Montfort University, Loughborough University and the University of Leicester are part of the Universities Partnership civic agreement. The agreement is a commitment between the three universities and the city and counties of Leicester, Leicestershire and Rutland to work together for the benefit of local people and the prosperity of our places.

Move of customer service operation to Derbyshire sees Frasers Group put 100 jobs on the line

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Move of customer service operation to Derbyshire sees Frasers Group put 100 jobs on the line
Frasers Group’s plans to move the customer service operation of its Studio Retail business in Accrington, Lancashire to its Derbyshire HQ in Shirebrook have been revealed. Reports in the Lancashire Telegraph indicate that the retail giant has entered into a consultation with 100 staff, who were contacted via email of the plans which aim to improve operational efficiency. It has been reported that employees will likely be made redundant on 26 November. Frasers Group acquired Studio Retail out of administration last year. The news comes as Frasers Group further increased its stake in Boohoo from 13.4% to 15.1%.

Next to acquire FatFace for £115.2m

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Next to acquire FatFace for £115.2m

Leicestershire retailer Next has signed terms to acquire FatFace for a total equity value of £115.2m from a consortium of Financial Institutions.

The consideration will be settled partly in cash and partly by the issue of new Next shares and management equity rolling over into the new structure.

Upon completion of this transaction, which is expected to take place within the next few weeks, Next will hold 97% of the equity and FatFace’s management will hold 3% in the business. Management will also participate in an additional performance related equity scheme.

FatFace will retain its management autonomy and creative independence. The company will retain its own Board of Directors and continue to be based in Havant, Hampshire. FatFace has been a LABEL brand selling on next.co.uk since 2016 and it is anticipated that it will migrate its online operations onto Next’s Total Platform within the next twelve months.

The deal follows a period of strong trading for FatFace under the leadership of its CEO Will Crumbie. In the 52 weeks to 27 May 2023, FatFace achieved total sales of £282m. Statutory profit before tax in the same period was £19.5m.

Digital channels account for 40% of FatFace sales, with the remainder largely coming from their retail stores. It is anticipated that the company will continue to trade and develop its own retail store portfolio.

Will Crumbie, who joined FatFace as CFO in 2014 and became CEO in 2021, will continue to lead the business.

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