Retail group critiques administrators’ handling of Joules sale
The Foschini Group, which owns brands such as Phase Eight and Hobbs, is said to have written to Joules’ administrators to complain about how it handled the sale of the business.
Reports from Sky News indicate that the South African group has written to Interpath Advisory, appointed administrator to Joules in November, regarding its decision to sell the business to a newly formed joint venture set up by Next and Joules founder Tom Joule after its rescue deal for the Market Harborough retailer looked set to proceed, only for Next to swoop in and snap up the firm at the last minute.
The Foschini Group is now apparently considering lodging a formal complaint with the Institute of Chartered Accountants in England and Wales over Interpath’s conduct and is understood to have written to lawyers working on the sale, suggesting they may have breached rules from the Solicitors Regulation Authority.
The Foschini Group is also reportedly looking to recover costs from its failed bid.
A spokesperson for the joint administrators told Sky News that they “reject any notion of unfairness,” adding that “TFG were granted a period of exclusivity in which they had the opportunity to conclude a transaction. Despite our best efforts, they were unable to do so within this timeframe.
“Thereafter, a materially better offer for the business was received, which the joint administrators concluded represented the best outcome for the company’s creditors.”
The new company formed by Next and Tom Joule acquired around 100 Joules stores, with approximately 1,450 jobs saved. 19 stores were not part of the transaction and closed immediately. 133 redundancies were therefore made.
2023 Business Predictions: Martin Austin MBE, Managing Director of Nimbus Disability
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 Martin Austin MBE, Managing Director of Derby-based Nimbus Disability, one of the country’s leading providers of disability-related advice and support to professional organisations, and the UK’s lead authority on accessible ticketing, which earned Nimbus The Queen’s Award for Innovation in 2022.
Businesses who not only meet but exceed their legal obligations to disabled people have the opportunity to boost their ethical credentials and tap into the lucrative ‘purple pound’ which could be the difference in not just surviving but thriving in 2023.
There is a growing understanding amongst businesses that disability, simply put, is good for business. Disabled People themselves have spending power in the UK of circa £80 billion and their households have a spending power of c.£249bn after housing costs.
This spending power is heavily influenced by their perception of a business’s ability and willingness to work with disabled customers and employees.
Then there is the opportunity to embrace wider influence on disabled people’s social circles and also on how a business is perceived locally and in the wider community.
Working with disabled people is therefore no longer just a case of meeting legal obligations it’s an opportunity no one can afford to miss and my heartfelt hope is that businesses take the opportunity during these challenging times to assess how they can make a difference both to other people’s lives and the credibility of their own operations.
Rail industry raises £12,000 to make a big impact on young lives
Pupils have sent a special message to members of the rail industry after they raised almost £12,000 for their school which will help to build an outdoor classroom.
Students from Royal School for the Deaf Derby have recorded a special video for the companies who attended Mainspring’s ‘Dinner at the Roundhouse’ annual event.
The gathering is a chance for the biggest names in the rail industry to get together and celebrate the last 12 months, forge new connections and look forward to the future.
And the businesses who attended, which included CoMech Metrology, Rail Forum, Arriva TrainCare and Wabtec, raised £11,970 for the school.
The money will be used to build a classroom in the grounds of the school in Ashbourne Road which will allow outdoor learning in any weather and be designed for the needs of deaf children.
Pupils have been told about the generosity and have recorded a special thank you video in British Sign Language.
Head teacher Paul Burrows, who gave a presentation at the event, said: “I am overwhelmed by the generosity of everyone who attended the Mainspring Dinner. The money raised indicates the level of kindness of the rail industry and their determination to be an inclusive industry.
“Royal School for the Deaf Derby intend to put the money into a brand-new project, as opposed to lots of smaller ones. The children have wanted an outdoor classroom space that is deaf aware and bespoke to their needs. We hope that this money can fund that project in its entirety.
“When I spoke at the event, I asked for equal opportunity for our deaf children – the money generously donated will enable us to create an inclusive, equal opportunity learning space for our amazing children. Thank you so much.”
The event, sponsored by Derby City Council, has raised money for Royal School for the Deaf Derby for many years and last year donations of almost £5,000 helped work on the school library to be completed.
Matt Pallett, Managing Director of CoMech, based on Pride Park, said: “Dinner at The Roundhouse is always a brilliant occasion and a good opportunity to catch up with colleagues across the industry.
“CoMech has worked with the pupils at Royal School for the Deaf Derby previously and I think Paul made a big impression on everyone in the room.
“How great that the money raised on the night will make such a big difference to the school.”
Matt Johnson, Managing Director of Mainspring, said: “We are delighted once again to support the Royal School for the Deaf Derby as we have done now for many years.
“Each year, we are inspired by the work that the school does in improving the lives of the young people in their care. We are thrilled that the Dinner at the Roundhouse event brought the national rail industry together to raise the highest ever amount for the school.”
‘Momentous day’ for family business with outstanding achievements in international trade recognised in Queen’s Award presentation
Independent, fourth generation, family run metal recycling and waste management specialists, Ward, has this month (December 2022) officially received its Queen’s Award for Enterprise (QAE) for Excellence in International Trade, at a formal presentation at its Griffon Road site in Ilkeston.
During the ceremony, Elizabeth Fothergill CBE, His Majesty’s Lord-Lieutenant of Derbyshire, presented a commemorative crystal bowl to directors Michael Ward and David Ward, alongside the rest of the Ward board.
The team also received an official Queen’s Award Grant of Appointment which was read out and presented by Tony Walker CBE DL who is the chair of the Derbyshire QAE Honours Panel. The High Sheriff of Derbyshire, Michael Copestake, was also in attendance for the proceedings.
Elizabeth Fothergill, CBE, said: “Considered the most prestigious business awards in the world, this award is an outstanding achievement and huge congratulations to the Ward team. Recycling is such important work and the family ethic of Ward is impressive.
“We were all immensely impressed with what the team do and achieve at Ward. It was great to see a family company operating in such an important industry passing on successfully to the fourth generation.”
Following the presentation, Toby Potter, Ward’s business development director, provided a tour of the metal processing site and guests enjoyed a celebratory lunch before wrapping up the very special occasion for the Ward family and the wider business.
Michael Ward, director at Ward, said: “Our business was established by my great grandfather over 80 years ago as a single site scrap metal dealer in Swadlincote. I’m proud to have been in the business for nearly 45 years with my brother David Ward and we have seen some significant investment and huge change in our operations.
“This achievement marks a monumental day for our family and the whole Ward team who we regard as extended family. To have Ward recognised and honoured in such a prestigious way is testament to the hard work of every member of the team.
“Over the three years to March 2019, thanks to significant investment in deep sea dock facilities and ongoing hard work from our dedicated teams, our overseas sales grew by 84%, a growth rate of 36% per annum.
“We have been able to expand our export capabilities to service customers in key export markets around the world. We have ambitious plans for our future, both at home and further afield, and we hope that this award marks the start of us realising every one of them.”
Ward was one of 225 organisations nationally honoured with its prestigious Queen’s Award for Enterprise in 2022 earlier this year. Just seven winners were selected from Derbyshire, with four recognised for Excellence in International Trade, Ward specifically for its outstanding short-term growth in overseas sales over the last three years.
During the summer, Michael Ward attended a special Queen’s Award reception in Buckingham Palace and met the then Prince of Wales, who was hosting on behalf of the Queen.
The Awards are considered the most prestigious business awards in the country, with the winning businesses able to use the esteemed Queen’s Award Emblem for the next five years.
Fire & security specialists appointed to install systems at Premiership football training facility
Fire and security system installation and maintenance specialists Tecserv UK has been appointed to install intruder alarm systems at a temporary training ground facility for Premiership side Brentford Football Club.
Tecserv, which is based in Underwood on the Notts & Derbyshire border, was contracted by Portakabin, who are working in partnership with Ardent Sports to create a bespoke building for the BFC following planning approval in June 2022.
The two-storey building has contributed 3,200m2 to the Jersey Road training complex and includes dedicated office space, changing rooms and medical treatment rooms. Tecserv has installed two intruder alarm systems to cover the reception building and main modular office block. In total, the systems have 11 control panels and covers over 90 intruder zones.
The new training facility, whilst temporary, represents a significant improvement on current facilities and is a stepping-stone towards the Club’s longer-term vision for a state-of-the-art performance centre. Made up of over 80 modules which were precision engineered offsite at the Portakabin manufacturing facility in York, the building has all the necessary facilities the Premier League side will require for both its First and B teams.
Colin Milligan of Tecserv UK said: “We have a long standing relationship with Portakabin and were delighted to assist on this project to ensure the new buildings benefit from the latest security technology to ensure access to the facility is controlled to authorised personnel and the valuable equipment and personal belongings inside are protected ”
A spokesperson from Portakabin added: “Tecserv UK is a trusted partner, helping us to deliver safe and secure temporary accommodation for a wide range of applications. We’re delighted to be once again working with a topflight Premiership football club.
“Having the capability to deliver facilities like this for the highest calibre of athlete is a fantastic achievement for our team. The building will be in place for the next five years, enabling the Club to continue to develop its plans for a new permanent performance centre and we’re honoured to be part of that process.”
Installed over 14 days, the building is now fully operational and as well as level access, fully glazed doors and bespoke furniture will also contain a hydrotherapy suite, a cryotherapy unit and plunge pool. A viewing platform will also be installed on the roof of the ground floor overlooking the pitches at Jersey Road.
Council takes next step to restore Chesterfield’s historic Tapton House
Proposals to safeguard the future of Chesterfield’s historic Tapton House – ensuring the Grade-II* listed building can be restored and brought back into beneficial use – have been considered by Chesterfield Borough Council.
A sympathetic scheme which would see the building restored and converted for residential accommodation, together with a commitment to retain the parkland for public use and create visitor access to part of the Georgian mansion, was chosen as the preferred option by the council’s Cabinet on Tuesday (13 December).
The decision followed careful consideration of bids from 17 interested parties, with the council’s Cabinet approving the sale of the property on a 999-year ground lease to developers, Stone Castle Enterprises Ltd. The sale is subject to further legal due diligence and exchange of contracts.
Councillor Dean Collins, cabinet member for economic growth, said: “Just like the people of Chesterfield, we want to achieve the very best outcome for Tapton House. This is why we set out to find a new owner with the necessary expertise and financial ability to restore and refurbish Tapton House and safeguard its long-term future.
“The council’s Cabinet considered a detailed report on the bids received and the robust process that has been followed to evaluate and score each against a range of relevant criteria – including evidence of proof of funds, and that conservation and environmental matters have been properly considered.
“The offer put forward by the preferred bidder represents the most credible, sympathetic and financially viable option to restore and safeguard the building for generations to come, and the developers have made a commitment to work closely with the council, the Friends of Tapton House and the wider community, as their plans progress.”
Any development will still be subject to planning and conservation approvals, but the proposals put forward set out an aspiration to convert the main house into 15 apartments, with three town houses and two bungalows built in place of the annexe buildings.
Stone Castle Enterprises Ltd have confirmed that no hard boundary would be required and open public access to the parkland would continue. The developers would also seek to create a public heritage area in the building to ensure its past use as the home of Charles Paxton Markham and George Stephenson are celebrated and the importance of the property to the town’s history continues to be commemorated.
Councillor Collins added: “I would like to express the council’s thanks to all 17 bidders who submitted offers to take on this treasured asset. In arriving at a final decision on this important matter, Cabinet members also considered the many views that have been expressed and representations made at earlier council meetings – including the debate on the Friends of Tapton House’s petition.”
A spokesperson for Stone Castle Enterprises Ltd said: “Our vision for Tapton House is to reflect its heritage, honour its past and to create new homes within the space that are steeped in history but built for modern lifestyles.
“We understand the significance of Tapton House to the local community and as such our proposals include maintaining the current levels of public access to the grounds around the building and exploring the viability of developing part of the building to showcase Tapton House’s rich heritage.
“We look forward to working hard, alongside the council and the community, to deliver the best for Tapton House and for the town and borough.”
The Cabinet decision is subject to the council’s usual call-in procedures.
£400,000 invested into advanced surface texturing machinery company
Foresight Group, the listed private equity and infrastructure investment manager, has provided a £400,000 growth capital investment into Texture Jet Limited from the Midlands Engine Investment Fund (MEIF).
The funding is part of a wider £650,000 funding round, alongside the University of Nottingham and members of the Minerva Angel Investor Group.
Founded in 2019, TextureJet is a University of Nottingham spin-out that has developed a range of patented surface texturing machines for use in manufacturing in the aerospace, medical and automotive sectors.
The process has widespread applications – in the automotive industry, it can apply textures on vehicle door frames, allowing the plastic housing to be attached; and, for medical device manufacturers, it can be used to etch a bespoke pattern onto a replacement joint at high precision. The company’s machines have been developed to offer a cleaner, easier, more sustainable and cost-efficient alternative to traditional, expensive and often polluting processes.
The founders, Dr Jonathon Mitchell-Smith and Professor Adam Clare, developed and commercialised the technology at the University of Nottingham. Having successfully spun-out of the University, the business is now scaling within the automotive and aerospace sectors. The investment, along with the support from Foresight and MEIF, will enable the management team to fully commercialise their technology.
Commenting on the investment, Dr Jonathon Mitchell-Smith, CEO of TextureJet, said: “We are delighted to have Foresight’s support through the Midlands Engine Investment Fund and look forward to using their experience and expertise in the region. This investment comes at a key stage in our growth journey, and it will be significant in helping us achieve our long-term commercial goals.”
Irfan Ashfak, investment manager at Foresight, said: “TextureJet has developed a truly unique range of machines and is well positioned to benefit from the market opportunities available. There is a need for a flexible, high-precision and non-toxic surface texturing method. We look forward to working with Jonathon and the wider team to support the growth of this innovative, local business.”
Record year in business for recruitment consultancy
Recruitment consultancy Prescient Group is looking back over a successful year as it records its highest output levels and sets sights on ambitious growth plans for 2023.
Born out of the pandemic in 2020 by seasoned recruiters Joel Fletcher, Charlotte Churm and Ed Robinson, the specialist firm has offices in Nottingham, Manchester and London and delivers its services across a number of sectors including supply chain, marketing, finance and HR.
Only in its second year of business, 2022 saw the team increase its turnover as it grew by more than 107% compared to 2021 – with an aim to grow by another 58% next year.
Since its inception, Prescient Group has built up its portfolio to more than 80 clients, as well as growing its services within its existing client base, and has expanded into the international market.
To support its client base, the team has grown to eight recruitment professionals – having appointed temps account manager Georgie Leech and permanent consultant Daisy Owen – and awarded three promotions within the last six months. Recruitment plans continue across its three offices, with a goal of reaching a headcount of 16 by next year.
Following the Nottingham office relocation this summer, which saw the team move to a bigger space in the city centre to accommodate its growth, the Manchester recruiters have also outgrown their space and recently moved into a bigger office within Spinningfields.
To celebrate and mark hitting its turnover goal, the managing directors took the team to Krakow this month and has provided other incentives such as team lunches, meals at a restaurant of their choice and after-work activities. Prescient Group has plans to go further afield next year, once they’ve hit their new targets.
Director Joel Fletcher said: “We’re proud to have achieved all the goals we set for 2022, and to be ending the year on record results for the business is a real high for us.
“Prescient Group was set up during the pandemic to simply provide an honest, ethical and first-class service, and this year is a testament to us delivering just that and the team’s hard work in doing so.
“This year we have expanded our services and more of our clients are utilising our offering. We have invested in specialist software to help us recruit more efficiently, capture more of the market and find job opportunities for our candidate base too. As well as this, we’ve been committed to growing and developing the team with bespoke training plans for our new starters and recruitment training.
“Charlotte, Ed and I would like to say thank you to all our employees, for their dedication and commitment this year, and our clients for their continued support. We look forward to further growth in 2023.”
Northampton construction consulting firm expands by 25%
The efforts and expertise of a Northampton-based construction consulting firm has led to the business growing by a quarter in the past 12 months.
Bhangals Construction Consultants have expanded by 25 per cent since this time last year, employing five new staff and taking the total workforce headcount to 26.
The construction experts, who use proven strategies to cut costs and speed up processes, have taken on an additional three estimators, one administrator and one further administrator who will start in January 2023 to support the growth of the business.
Managing Director Parm Bhangal said: “We’ve had a very busy year and our efforts have seen us put 25 per cent on to the business from last year. We are not complacent, there are a number of challenges we continue to face.
“With the way interest rates are going it will be difficult to pursue further growth, but we’ll do our best to push forward, keep up our first-class service and do the very best we can for our clients.
“We pride ourselves on delivering projects on time and on or under budget, every time. All our services are bespoke and tailored to customer needs and wants.
“This has led to more people coming to us on all fronts. They see us out there and know we can help with quantity surveying, architectural disputes and all that we offer. Ideally, I’d like to add another 25 per cent to the business in 2023 and I believe that is achievable.”
Three new appointments at WestBridge Group
Leicester-based tax consultancy and SSAS administration specialists, WestBridge Group has further strengthened its team following the appointment of Matt Gardiner, Hugo Witts and Sian Shade.
Matt and Hugo join WestBridge SSAS as account managers having previously worked in similar roles at Mattioli Woods. Sian joins WestBridge Tax as a senior associate having previously worked at Grant Thornton.
The new appointments are part of an ongoing strategy of growth which recently saw WestBridge Group acquire the employees, clients, and assets of Rowanmoor Executive Pensions Limited’s (REPL) book of 3,500 small self-administered schemes (SSAS), for an undisclosed sum. Following the acquisition of the REPL book, the firm now has offices in Salisbury and Bolton.
Matt said: “As well as carrying out SSAS administration on behalf of a portfolio of clients I am looking forward to being responsible for mentoring new starters and helping with the ongoing training of established team members.”
In his spare time Matt plays guitar in a band, and is also season ticket holder at Leicester City. He also coaches a local girls football team as well as being their Safeguarding Officer.
Hugo also lives in Leicester and has a BSc Economics and Politics and a Diploma in regulated financial advice. He said: “I enjoy working directly with clients and this will role give me an opportunity to look after my own pension clients whilst also adopting a pro-active approach to using systems to submit reporting information.”
In his spare time Hugo plays American Football for the Leicester Falcons #63, and was part of the squad that won the Division 1 National Championship in 2018.
Sian is part way through gaining her Chartered Taxation Adviser qualifications having already passed her AAT. She also has a Graduate Diploma (Law) and a BSc (Hons) Biochemistry.
In her new role, Sian will be working as part of a team working on tax advisory projects to advise companies and individuals on the tax implications of various transactions and proposing tax efficient solutions.
She said: “I chose to join WestBridge Tax as they are a recognised provider of quality tax advice and I will get the opportunity to be involved in high quality and challenging projects. The company offers the perfect mix of experience and breadth of knowledge whilst also retaining the personal approach and feel of a smaller firm.”
In her spare time Sian enjoys travelling and exploring new places, with weekends mostly spent supporting the various sporting activities her children participate in such as football matches and athletics meetings.
