Redundancies made at Joules

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Redundancies made at Joules
Senior redundancies have been made at Market Harborough lifestyle brand Joules, following the appointment of administrators last week. Retail Week reports that it has seen an internal memo noting that channels director Rimal Patel and brand and creative director Chloe Ward have both left the business, while chief financial officer Caroline York is set to leave on Thursday. 11 other staff were also said to have been made redundant on Monday, with more to follow. Will Wright, Ryan Grant and Chris Pole from Interpath Advisory were on Wednesday (16 November) named joint administrators of Joules Group plc and Joules Limited. At the same time, Will Wright and Ryan Grant were appointed joint administrators of Joules Developments Limited and The Garden Trading Company Limited. Joules is one of the UK’s best-known retail brands, renowned for its premium, colourful clothing and homewear products, inspired by country living. Headquartered in Market Harborough, the group currently operates a total of 132 stores across the UK, employing over 1,600 people. The joint administrators said they will continue to trade the group as a going concern while they assess options for the business, including exploring the possibility of a sale as a going concern. All stores, including the group’s online store, will remain open. Will Wright, head of restructuring at Interpath Advisory and joint administrator, said: “Joules is one of the most recognisable names on the high street, with a unique brand identity and loyal customer base. “Over the coming weeks, we will endeavour to continue to operate all stores as a going concern during this vitally important Christmas trading period while we assess options for the group, including a possible sale. “Since the group’s announcement on Monday, we have had an overwhelming amount of interest from interested parties. We will be working hard over the days ahead to assess this interest, but at this stage we are optimistic that we will be able to secure a future for this great British brand.” A South African group that owns brands such as Phase Eight and Hobbs is reportedly contemplating a bid for Joules. According to Sky News, The Foschini Group (TFG) has been in discussions with Joules for several weeks – ahead of it appointing administrators – with an offer of investing in the business in return for a substantial stake.

Newly launched roadside dining brand commits to largest unit at Rutland development­­

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Newly launched roadside dining brand commits to largest unit at Rutland development­­
UK property developer Godwin Developments has announced that Loungers, a nationwide operator of all day café-bars and restaurants, has signed a lease for the biggest unit at its new roadside retail development, Ram Jam Services. Fronting the busy northbound section of the A1 in Rutland, the restaurant will be operated under the Brightside brand, a recently announced roadside dining concept from Loungers which is being rolled out across the UK. When delivered, the 4,500 sq ft unit will be the first purpose-built Brightside restaurant which will serve c. 41,500 vehicles passing the site daily as well as residents of the local area. Ram Jam Services is positioned alongside the main arterial route from Peterborough to Grantham, next to an established petrol station, a new bakery and is only 15 minutes away from Rutland Water – one of the largest man-made lakes in Europe. The area and wider county attract nearly 1.9 million visitors every year who favour it for its attractive countryside and outdoor pursuits. A total of four units have been developed by Godwin at Ram Jam Services, of which three are currently under offer, leaving only one unit comprising 754 sq ft available. Claudine Tracey, associate director, Commercial Development at Godwin Developments, said: “We are delighted to have secured Loungers’ new Brightside brand for our Ram Jam Services development. The site has historically been a thriving roadside destination and we are really pleased to be breathing new life into it, bringing amenities and consumer choice, attracting passing motorists as well as those who are travelling to and live in the local area. “We remain very active in the roadside retail market, which is buoyant and growing rapidly. We have already built strong partnerships with all major market players in this space and we will continue to support them in expanding their networks and bringing brands closer to their customers.” Alex Reilley, founder chairman of Loungers plc, said: “We believe that Brightside will really shake up what has become an uninspiring sector and that there is potential to roll out Brightside across the UK in the coming years. Our expertise in high-quality, great value all-day dining, developed through Lounge and Cosy Club, gives us confidence that Brightside can bring proper hospitality back to roadside dining across the UK.” Ogle Property and Shakespeare Martineau acted for Godwin Developments on the deal. The remaining unit is being marketed by Ogle Property.

Research reveals strong growth in number of enterprises in Leicester and Leicestershire

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Research reveals strong growth in number of enterprises in Leicester and Leicestershire
New research from the Office for National Statistics’ UK Business Counts dataset shows that Leicester and Leicestershire have performed strongly against other English local authority and regional areas in terms of the number of enterprises and businesses located in the area between 2011 and 2021. The highlights include:
  • Space Park Leicester newLeicester had a 98 per cent growth rate in the number of enterprises in the city, ranked 5th overall and the highest outside of London in comparison with all 152 single/upper tier authority areas
  • Leicestershire’s growth rate in the number of enterprises is ranked 5th against the 31 other comparable counties
  • The Leicester and Leicestershire Enterprise Partnership (LLEP) achieved a growth rate of 46 per cent and is the fourth highest of 38 Local Enterprise Partnership areas
The wider East Midlands region saw a percentage growth of 34 per cent in the number of enterprises – the third biggest growth out of nine regions around the country. Mike Denby, director of inward investment and place marketing at Leicester City Council, said: “We are pleased to see the impressive performance of the city and county in terms of the number of businesses making the area their home, and staying and growing here. “The destination offers a high quality and cost competitive investment location and growth results like these reaffirm the message that Leicester and Leicestershire is a place where world leading businesses will thrive in the long-term.”

KPMG UK to relocate Nottingham office

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KPMG UK to relocate Nottingham office

Business advisory firm KPMG UK is set to relocate its Nottingham office, next year, to the University of Nottingham’s new Castle Meadow Campus as part of its long-term regional growth strategy.

KPMG UK’s Nottingham office supports businesses in the East Midlands with audit, tax, consulting and advisory services across a wide range of sectors – both private and public. The firm’s office, currently located on Park Row, Nottingham, hosts over 200 employees, who will move to a dedicated office at the university’s new campus, situated at the foot of the city’s historically significant Nottingham Castle.

The move strengthens the existing strategic partnership between KPMG UK and the university; and bringing a local business into the academic hub will provide an exciting opportunity to create a professional learning and working environment for staff and students. Bringing the daily business activity of the firm into the university environment will also unlock new opportunities for talent and skill development, shared facilities and services – including hospitality and conferencing – as well as the experience of a university-business connected environment.Marc Abrams, senior office partner at KPMG UK’s Nottingham office, said: “This is an exciting time for KPMG in the East Midlands as we embark on the next stage of our relationship with the university. The decision to locate within the university in the city centre reinforces KPMG’s investment in the East Midlands and our ambition to expand and enhance staff experience by providing new facilities.

“With this move our clients will benefit from greater collaboration on research and innovation projects between KPMG and the university, enabling us to deliver enhanced data driven outcomes for their businesses.”

Castle Meadow Campus is the university’s once-in-a-generation landmark investment currently in development. The new campus will enable the university to have a greater physical presence in the city centre, bringing opportunities for final year and postgraduate students studying professional practice-based courses, as well as supporting jobs, investment, and growth for the city.

Margaret Monckton, chief financial officer at the University of Nottingham, said: “We are delighted to welcome KPMG into our university community. Our Castle Meadow Campus will enhance opportunities for collaboration with local business, industry and small businesses, making it easier for partners to seamlessly engage with us and develop long-term, mutually beneficial relationships, and make a positive difference for the city, while offering the best of facilities for staff and students. KPMG is a foundational partner in this exciting new venture for the university.”

Justine Andrew, head of the University Partnership office at KPMG UK, added: “The first year of our partnership has already unlocked some exciting projects for us, the university, our clients and the region. Being located within the university’s campus will be a new step for us as we look to collaborate on talent, product development and innovation. We see the Nottingham partnership playing an increasingly important role in supporting new and innovative ways of working across the UK. The move is a hugely exciting chapter for us.”

Professor John Gathergood, associate pro-vice chancellor for Research and Knowledge Exchange in the Faculty of Social Sciences at the University of Nottingham, said: “We are thrilled to enter this unique co-location relationship with KPMG which will benefit the research and innovation activity in both organisations. Campus co-location promises new ways of working and innovating, bringing university and business talent in partnership to promote research and innovation for financial inclusivity and social good.”

The relocation announcement comes shortly after the first anniversary of KPMG UK’s strategic partnership with the University of Nottingham, a partnership which drives insight for clients and supports the economic growth agenda across the East Midlands. The move allows an additional exciting opportunity for collaboration across fintech, talent and research-based client solutions.

Student accommodation and Build to Rent apartment scheme planned for site of Leicester office building

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Student accommodation and Build to Rent apartment scheme planned for site of Leicester office building
Proposals have been submitted for purpose-built student accommodation (PBSA) and a Build to Rent (BtR) apartment scheme on Welford Road in Leicester.
Cheswold Welford Road Limited are seeking full planning permission to redevelop James House for the scheme. The plans involve the demolition of the existing office building at the site to make way for a student accommodation block providing 351 bedspaces, and a Build to Rent block providing 106 apartments made up of 46 one bed and 60 two bed flats. There would also be a commercial unit on the ground floor.

Clowes Developments reports record breaking turnover

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Clowes Developments reports record breaking turnover
Clowes Developments has reported a rise in revenue and profit in its latest annual accounts for the financial year ending 31 March 2022. The Derbyshire-headquartered firm achieved a record breaking turnover of £119.8 million, up from £82.9m in the year prior. Pre-tax profits meanwhile stood at £41m, growing from £22.3m. The news comes after the firm’s acquisition of Derby County Football Club earlier this year. The directors of Clowes “consider that this is a medium-term investment to return the football club to stability and add significant value to the initial cost of circa £60m.”
Since 31 March 2022, the group has acquired four new sites along with the Pride Park Stadium, and sold a number of smaller completed new build commercial properties, sold two commercial land plots and agreed further pre-sales on six commercial units where building is about to commence or has already started. Clowes says it continues to trade at increased levels compared to previous years due to the pre-sold commercial deals signed both during the year and since the year end.
Chairman of Clowes Developments, David Clowes, said: “Our latest figures tell an on-going and compelling story of robust financial management and cautious investment. Our buoyancy is testament to the hard work of our professional team and a vote of confidence from the market in our company’s ethos and commercial direction.”

Strong revenue growth for Lutterworth cybersecurity software company

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Strong revenue growth for Lutterworth cybersecurity software company
Revenue and pre-tax profit are on the rise at Intercede, the Lutterworth cybersecurity software company. According to interim results for the six months ended 30 September 2022, revenues totalled £6.1 million, approximately 24% higher than the £4.9 million reported for the same period of last year. Profit before tax meanwhile hit £620,000, up from £120,000. The news comes after Intercede’s acquisition of Authlogics Ltd, post-period end, a UK-based company bringing Multi Factor Authentication (MFA) and Password Security Management (PSM) capabilities to the Intercede Group.

Royston Hoggarth, chairman, said: “I would like to take this opportunity to thank our colleagues for their hard work during what has undoubtedly been a busy six months, driving strong double-digit revenue growth and working towards the completion of Intercede’s first M&A deal.

“The acquisition of Authlogics enables Intercede to deliver on its strategic vision of addressing the entire authentication pyramid from Passwords to PKI. 

“The Board is pleased to see such a focussed start to Phase 2 of the turnaround plan to push scalability and accelerate revenue growth.

“While the Board is cognisant of volatility in the current global macroeconomic environment, we remain confident in the group’s execution of the ‘6C strategy’ and that the outlook for the second half of FY23 remains in line with management’s expectations.“

Burton upon Trent-based golf club expands after securing funding package

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Burton upon Trent-based golf club expands after securing funding package
A Burton upon Trent-based leisure business has expanded with support from HSBC UK. Branston Golf and Country Club has utilised a £2.4m funding package from HSBC UK to assist the business with its regeneration plans, following a management buyout of the club pre-pandemic. The transformation includes the development of a health club, 17m swimming pool, conference facilities, creche, and a 2,000 sq ft gym, alongside extensive maintenance of multiple site golf courses. Branston Golf and Country Club has established 10 jobs across the business, created to manage and support the promotion and operation of the Club’s new and improved facilities. With over 3,000 members, Branston Golf and Country Club has seen a 23% uplift in health and fitness memberships – and a 14% increase in golf memberships – since reopening post-pandemic in 2021. As a result of expanding, Branston Golf and Country Club is estimating an increase of 25% in turnover to hit £5m in revenue at the end of a five-year regeneration plan. Ben Laing, Managing Director at Branston Golf and Country Club, said: “The support from HSBC UK has enabled us to extend our investment over a longer period. Consolidating the investment in one package will enable us to drive the rate and volume of all revenue streams, resulting in steady and consistent growth across all business sections. “As we operate in the premium segment of the market, this investment has ensured that we can deliver the highest quality of service and facilites to all our members and customers.” Paul Armstrong, area director at HSBC UK, added: “We’re pleased to be able to support businesses from sectors that are still recovering from the impact of the pandemic, such as Branston Golf and Country Club. The Club is in a position to move forward with its exciting plans for future growth.” The proposal was introduced by Ben Lavin at Empire Finance who worked with Mark Greasley, relationship manager at HSBC UK, in order to find a suitable funding package.

Plans in for major student scheme in Leicester

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Plans in for major student scheme in Leicester
Plans to demolish a factory in Leicester to make way for student accommodation have been submitted to the City Council. The proposals for the Gill Knitwear site at 48 Little Holme Street are to be delivered by ECE Westworks alongside Crown Student Living.
The application site is within walking distance to both of Leicester’s universities.
The planned scheme comprises 646 beds of managed student accommodation, varying from studios to multi-level cluster apartments. These would be supported by associated landscaping, ancillary and communal facilities. The building would vary in height from seven to eleven storeys with a six-storey connecting spine.

Lincolnshire company fined £36,000 for illegal waste activities

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Lincolnshire company fined £36,000 for illegal waste activities
A food waste recycling company has been fined £36,000 for the illegal spreading and storage of waste at three sites in South Yorkshire and Lincolnshire, in a sentencing case heard at Doncaster Magistrates’ Court on Wednesday 16 November 2022. In September 2022, Whites Recycling Limited pleaded guilty to 8 offences, including the breach of environmental permit conditions related to the spreading of waste to farmland in Auckley and Blaxton, Doncaster, and Susworth, Lincolnshire, contrary to the Environmental Permitting (England and Wales) Regulations 2016. Doncaster Magistrates’ Court heard that Whites Recycling Limited, in breach of its environmental permit, spread liquid waste to fields near to Ivy House Farm, Auckley between March and May 2018; to Acomb Farm, Blaxton in November and December 2018; and to East Ferry Road, Susworth, Lincolnshire in November and December 2019. Liquid wastes containing nitrogen and phosphates were spread on land by the company at the wrong time of year or in excessive quantities, which posed a risk of pollution to groundwater. In addition, the Lincolnshire-based company pleaded guilty to illegally storing liquid waste in a storage tank on Acomb Farm between July 2017 and April 2018. Whites Recycling Limited is a company involved in the disposal and recycling of waste sludge and liquid waste, the majority of which are generated by the food industry. The company can lawfully spread such waste to farmland in circumstances where it can be demonstrated that land spreading will result in agricultural or ecological benefit. Although the company had an environmental permit that allowed it to spread food waste to land for agricultural benefit, it was a condition of its permit that before it could start to store or spread waste at a location, it must notify the Environment Agency using a deployment form, and the Environment Agency must agree to the spreading. This ensures that waste is only permitted to be spread to land when it benefits either the soil or the crop being grown in it and where it will not pose a risk of harm to the environment. If waste is spread to land without a deployment first having been agreed, or if waste is spread to land in circumstances which are not in accordance with the agreed deployment, then there is a risk of environmental harm. In passing sentence, District Judge Young stated that the company had been negligent, in that it had failed to take reasonable care to put in place and enforce proper systems for avoiding the offences. The court acknowledged that the company had reviewed its systems and steps had been taken designed to avoid further offending. The court stated that it had to balance the need to bring home to the company’s management and shareholders the need to improve regulatory compliance, with the fact that the company had recently been operating at a loss. The Court fined the company £36,000 and further ordered the company to pay a statutory surcharge of £170, and the Environment Agency’s investigation and legal costs of £38,008.17. After the sentencing, Area Environment Manager Steve Lawrie said: “Our rules are in place for a good reason and to ensure that any material that is spread is done correctly and managed in a way that protects the environment. We will not hesitate to take enforcement action in future for those who breach their permits and refuse to cooperate. “We hope this case sends a message to other land spreading operators and farmers that we take land spreading offences very seriously. Operators must follow the correct procedures to ensure they spread safely, in accordance with their environmental permits. “We will always take action against anyone who fails to act in accordance with environmental laws and if anyone spots an environmental incident, they can report it to the Environment Agency’s 24-hour incident hotline on 0800 807060.”
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