Business insolvencies increase by more than half within 12 months – R3 Midlands
The economic effects of the pandemic continue to impact heavily on businesses as latest Government statistics show that corporate insolvencies have increased by more than half compared to the same time last year.
Monthly research by the Insolvency Service shows that while the proportion of insolvent businesses in England and Wales fell by 3.0% in October to a total of 1,405, the number is 63.6% higher than October 2020’s figure of 864.
According to the Midlands branch of insolvency and restructuring body R3, the dramatic year-on-year increase in corporate insolvencies indicates the sizeable number of directors who are finding the post-pandemic hurdles too high to jump and have closed their businesses down.
R3 Midlands chair, Eddie Williams, a partner at PwC in the East Midlands, said: “The month-on-month fall in corporate insolvencies has been driven by a reduction in the number of Creditors’ Voluntary Liquidations. There are still twice as many companies entering this procedure than this time last year, however, and nearly 20% more than in 2019.
“This would suggest that there are still a fair number of company directors who are choosing to close their businesses after deeming post-pandemic success unlikely. However, the fact that overall corporate insolvencies are 5% lower than the number in October 2019 suggests that the Government’s support measures have prevented the economic consequences of COVID-19 from translating into higher levels of corporate insolvency.
“The business climate is still harsh, with economic growth slowing, costs rising and consumer confidence falling. Although consumer spending is higher than it was this time last year, rising COVID case numbers and sharp energy price rises have meant many businesses aren’t seeing the benefits of this.
“As we move closer to Christmas, we would urge company directors to be mindful of the signs of business distress, which include cashflow problems, issues paying invoices, and concerns about paying staff, and get appropriate professional support as soon as they appear.
“The sooner advice is sought from a qualified and reputable source, the more potential there is for a solution. Many R3 members offer a free consultation to those who are looking for help with their business’s finances and want to explore their options.”
Leicestershire homebuilder helps pupils look on bright side for road safety week
Pupils at Fleckney Primary School in Leicestershire recently received a donation of reflective vests from David Wilson Homes to help them shine bright for Road Safety Week (15th to 21st November).
The five star housebuilder gave the school 35 high vis vests for its pupils to wear whilst walking to and from school, ensuring they can be easily seen on the roads as the darker nights draw in.
Road Safety Week runs in November each year and encourages pupils to celebrate the journey to school on foot.
Tim Leah, Headteacher at Fleckney Primary School, said: “Lots of our young pupils walk the journey to and from school and their safety whilst doing this is incredibly important to us.
“That’s why we’re incredibly grateful to David Wilson Homes for its donation of high vis vests. We were thrilled to accept the vests and our pupils will be using them throughout Road Safety Week and in the future.”
Fleckney Primary School is located near the homebuilder’s Fleckney Fields development on Kilby Road and the donation of hi-vis vests is another part of David Wilson Homes’ outreach to the local community.
In what’s been a challenging time for schools across the country as a result of the pandemic, the leading developer is as committed as ever to providing support during Road Safety Week and beyond.
Rachael Harrison, Sales Director at David Wilson East Midlands, said: “We want to ensure the pupils in the local communities remain visible now the darker nights are here, and our donation has hopefully still encouraged them to safely practice Road Safety Week.
“This is a campaign we actively support each year as we endeavour to help local school children in their efforts to commute on foot, and the vests have proven to be both effective and practical.
“As a result of the COVID-19 crisis, it’s even more important for us to support the local schools in and around the communities we build, so we’re thrilled to have had the chance to support Fleckney Primary School during Road Safety Week.”
David Wilson Homes’ high vis vests have proven to be particularly useful during Road Safety Week and beyond, with their features set to benefit pupils in their future journeys to school throughout the winter months.
Leicestershire CCC and M-EC Forge Decade Long Partnership
Leicestershire County Cricket Club (LCCC) has announced that M-EC will be an Official Partner of the club for the 2022 season. The new sponsorship agreement marks a decade of collaboration between the two organisations.
It is an exciting time at the Uptonsteel County Ground with numerous Leicestershire businesses backing the Foxes for the upcoming season. Having such commercial support will help the club thrive both on and off the pitch.
Having sponsored LCCC in many ways over the past decade, M-EC will feature on the arm of the LV= County Championship and T20 Vitality Blast kits for the entirety of the 2022 campaign.
M-EC, which is headquarted in Hugglescote, Leicestershire, has worked with LCCC since the company’s inception in 2009. The company has grown to become one of the nation’s leading development technical consultants, working with a range of local authorities, leading housebuilders and construction companies on projects across the UK.
Edward Mewies, Managing Director at M-EC said: “We are proud to be longstanding partners of Leicestershire County Cricket Club and we are looking forward to cheering the team on once again next season. Supporting other local organisations and charities is important to us all at M-EC, either through agreements at a company level like this, or individually. LCCC share those values and are involved in the local community which is why we have partnered with them for the past ten years.”
Tracey Branson, LCCC Commercial Manager said: “We are delighted to have M-EC on board once again and look forward to working with the team at M-EC in 2022. The relationship between the club and company has grown over the past decade and we highly value their support and its always great to invite the team to the Uptonsteel County Ground. Partnerships such as this are vital to the success of the team on the pitch and the work we do off it, so I would like to thank M-EC and all our partners for their support.”
Fibre optic firm expands in Derby
Unit 35 Shaftesbury Street South has been snapped up by nationwide fibre optic providers Full Fibre to base a Midlands expansion out of.
Full Fibre are rolling out fibre optic broadband to 13 towns across the Midlands in a move that hopes to provide better connections for those towns that may have been overlooked.
William Speed of Salloway Property Consultants, who agreed the terms of the deal on behalf of a private client, said: “It is great to be able to provide space for a national company working to increase connectivity in the Midlands.
“Full Fibre are a well renowned firm who work nationwide to provide fibre optic connections for ‘forgotten’ towns around the UK. Their new base in Derby provides them with the perfect location to serve the Midlands from.”
Chris Williams, area general manager at Full Fibre, was pleased to see the speed in which they were able to take occupation of the unit: “Timing was essential for us, we needed a unit to work out of to fulfil our contract in the Midlands as soon as possible. The unit at 35 Shaftesbury Street South works perfectly, giving us a central location to work out of whilst connecting the Midlands.”
University of Nottingham purchases 350,000 sq ft of buildings for new campus
Mapeley Steps Limited and Malabar Investment Holdings Limited, advised jointly by Savills and Metis, have sold the freehold of Castle Meadow Campus in Nottingham to the University of Nottingham.
The property was marketed at a guide price of offers in excess of £36 million.
Set across more than nine acres (three hectares), the campus comprises six highly specified three and four storey office buildings and a dedicated health & wellbeing hub totalling 351,247 sq ft (32,635 sq m).
Four of the five office buildings are let to Mapeley Steps Contractors Ltd until late 2022, and are currently occupied by HMRC who will be vacating at the end of September 2022 to new accommodation at Unity Square, whilst the remaining building is let to Browne Jacobson LLP.
Upon purchasing, the University has plans to provide a campus for final year and postgraduate students, realising its long standing ambitions to have a greater physical presence within the city centre.
Castle Meadow Campus occupies a prominent canal side position immediately to the south west of the City Centre within Nottingham’s central office core and is overlooked by the renowned Nottingham Castle. The Campus is within easy walking distance from Nottingham Train Station, Castle Marina Retail Park, Sainsbury’s and Aldi, and a number of pubs and restaurants.
Vice-Chancellor Professor Shearer West from the University of Nottingham said: “This is a symbolic milestone in the story of both the city and the University of Nottingham and presents a hugely exciting opportunity. Opening an additional UK campus is an expression of confidence in the future of both the University and the city of Nottingham.
“Having a campus in the city, with transport links that offer a gateway beyond the region, will help enhance our civic agenda and enable us to deliver on our ambitions to support jobs, investment and growth across the city. It also offers greater opportunities for collaboration with local business, industry and SMEs, making it easier for partners to engage with us and develop long-term, mutually beneficial relationships.
“For students in particular the site could enable greater and more convenient links with regional business and industry through placements, entrepreneurship, and collaboration to deliver a professional and practice-based curriculum, enhancing their graduate employment skills and opportunities to remain and work in the city.
“A civic and professional campus at Castle Meadow will accelerate the delivery of our strategic ambitions, demonstrating to the people of Nottingham just how far we are prepared to go to make a positive difference for the city, while offering the best of facilities for staff and current and future students.”
A representative from Malabar Investment Holdings Limited says: “This deal represents a successful conclusion to a very positive collaboration with Mapeley following the lease extension agreed with Browne Jacobson last year and we would like to thank the teams involved. It is exciting to see the Castle Meadow campus move into the next stage of its lifecycle, and we look forward to seeing the University’s plans delivered.”
Nottinghamshire nursery sold to growing East Midlands group
Specialist business property adviser, Christie & Co, has sold Dragonflies Day Nursery Ltd in Nottinghamshire.
Dragonflies Day Nursery Ltd is an independent setting for up to 51 children aged 0-5 years. With an ‘outstanding’ Ofsted report, the nursery also has an outdoor area which includes a container unit that was expertly designed and converted by early years experts with toddlers in mind.
The setting comes with the opportunity to extend the premises to one side and to streamline management in line with their existing group.
The nursery is located in a former police station in the village of Calverton in Nottinghamshire with various amenities in the locality providing plenty of drop-off points and access for local parents walking to work.
The business was previously owned by Miss Michele Larman who successfully ran the nursery for over six years and recently decided to sell to pursue an early retirement and spend more time abroad.
It has now been purchased by growing East Midlands-based nursery group, Purley Ltd, which comprises nurseries in Stoke, Northampton and Chesterfield. The group is owned by husband-and-wife team, Mrs Tushi Popat and Mr Anant Popat, who have financial and legal backgrounds which aided their acquisition process.
Miss Michele Larman says: “Having converted the police house and police station in 2014 into a purpose-built nursery, it was important when I was considering handing over the reins that it would be to someone who would lavish the same care and attention to detail that I have for the last seven years.”
Jassi Sunner, associate director at Christie & Co, who handled the sale, says: “Dragonflies Day Nursery is a delightful setting with some really unique features and is situated in a fantastic location.
“The business attracted an array of interest and, much like other recent instructions, garnered a competitive process leading to bids in excess of the asking price.
“As ever, the buyers want to see where they can add value and where the uplift is in the business and Dragonflies is an excellent example of a well-run business with a fantastic reputation with, crucially, room to grow and build on that success.
“Day nurseries like this will always garner significant attention due to the lack of businesses coming to market, which can enable the best price possible for the seller – as was the case for Michele. It has been an absolute pleasure to work with Michele, I wish her and her family good health and hope they enjoy more time together following the sale of the business.”
Dragonflies Day Nursery Ltd was sold for an undisclosed price.
Harrogate smart energy firm swoops for Leicester company
Chameleon Technology (UK) Ltd, the Harrogate-based smart energy technology company, has acquired GenGame Ltd, Leicester-based specialists in consumer energy technology and app development.
The deal signals the next milestone in Chameleon Technology’s plans to provide consumers with a platform for intelligent, optimised control over their home energy system, which will be a crucial element of everyone’s personal journey to net zero.
Mike Woodhall, CEO, Chameleon Technology, says: “Acquiring GenGame is a timely strategic move to further advance our product roadmap. Our focus is on enabling all consumers to understand and reduce both their energy consumption and carbon emissions.
“With this acquisition we gain another means of empowering those consumers and the ability to put the data needed to help them on their personal journey to net zero in their hands. We are aiming to make the management of home energy smarter, simpler, greener and more personalised.
“GenGame’s experience in delivering applications that demystify some of the complexity of the energy system is going to be a big part of this. The acquisition is well-timed to leverage and support the transformation of the energy industry and will cement our position as a leader in smart home energy management.”
Stephane Lee-Favier, Managing Director, GenGame, says: “It is great to be joining the Chameleon Technology group, and at a very exciting time for the future of energy. We are looking forward to scaling and commercialising what we have built and driving a consumer-led, low-carbon offering together.
“Both of our companies’ missions are totally aligned in allowing the consumer to see value in changing their home energy behaviour, and this makes it an ideal opportunity for GenGame.”
GenGame, who work with utility companies including Ecotricity, Green Energy UK and So Energy, will become a wholly-owned subsidiary of Chameleon Technology (UK) Ltd and will exist as an ongoing entity.
GenGame will continue to be based in Leicester and all of the staff will remain in place with Stephane Lee-Favier as Managing Director. Stephane will also be joining the Chameleon Technology Operations Board to provide strategic input into future technology developments.
Nottinghamshire Fire and Rescue Service launches an emergency Christmas safety initiative for businesses
The business safety team at Nottinghamshire Fire and Rescue Service has joined forces with the licensing team at Nottinghamshire Police and the team at Mansfield Business Improvement District (BID) to engage with members of staff in businesses to raise awareness of certain fire safety issues which arise during the festive period.
Business education advocate, Sophie Winterbottom, said: “This initiative was an opportunity to create wider relationships with the businesses in our communities as well as provide them with safety advice. The majority of businesses we visited in Mansfield were aware of the extra precautions they have to take during this period.
“If you have a business, please ensure that you are not covering fire exit signs with tinsel, overloading plug sockets with Christmas lights or blocking fire escape routes with Christmas stock.”
Paul Horton, Senior Licensing Officer, said: “It is always great to come together with our partners and offer this support to businesses as a partnership. The aim of this initiative really was to ensure businesses have the most up-to-date and best possible safety advice in the run up to Christmas.
“We spoke to businesses around making sure their CCTV is working and retrieving footage, as well as where to place Christmas decorations so this coverage isn’t affected should an incident occur which we need to investigate.
“Organising adequate door staff at busy times was also something we discussed with the premises, as well general vigilance, including taking note of how potentially vulnerable people might be getting home and organising taxis.
“Christmas is a great time for people to enjoy themselves and I think it’s fair to say that, as a collective, we are committed to taking these proactive steps to make sure businesses are in the best possible position and that the public can have a safe and enjoyable festive period if they choose to go out.”
New chairman and investor for Bis Henderson Group
Bis Henderson Group, the talent-to-solutions supply chain services company, has appointed Adrian Fawcett as chairman.
Adrian, who has also invested in the Northampton-based business, will join the board of directors to help the business accelerate through the next phase of its growth, as the company seeks to develop into the largest platform provider for warehouse space, consulting and recruitment services to the supply chain and logistics sector.
Adrian is also currently chairman of Park Holidays UK. The company has seen its fortunes grow during his tenure, through four PE sponsor transactions, from being a sub £15m company into the £1bn business it is today. A sale to Sun Communities of the USA has just been agreed.
His early career was spent at Bass Brewing where he helped build and sell the business and was instrumental in the creation of Tradeteam Exel distribution. He also led the growth of Punch Taverns, successfully floating the business as a 9,300 plus outlet, ftse 100 company.
In the healthcare sector he became CEO of BMI Healthcare, where he elevated the company to being the largest private UK healthcare system servicing the breadth of the UK. And as chairman of Silentnight Group Adrian has overseen a transformation of the company’s fortunes, taking it to a market leading position in the sleep category.
Andy Kaye, CEO of Bis Henderson Group, said: “Adrian brings a wealth of experience and a fantastic track record of working with teams to create some of the fastest growing, market leading and transactionally active companies in their sectors.
“The board and I welcome Adrian’s insight and energy in helping us build for the future and we look forward to working with him in what is planned to be an exciting chapter of growth and development for our business.”
Adrian Fawcett said: “Fast and efficient access to available warehouse space has become increasingly critical and relevant to the new, agile business models of today – and this is true across retail, manufacturing, distributors and supply chain service providers.
“The Brexit and Pandemic dislocations have created accelerated and unavoidable new requirements – meaning that Bis Henderson’s integrated solutions and services are increasingly vital for business success.”
South East Coalville development enters second phase with further plot sale to Bellway
Harworth Group plc, a regenerator of land and property for sustainable development and investment, has sold a 13.8-acre land parcel at its South East Coalville residential development to Bellway.
The land parcel will deliver 189 new homes and represents the first sale as part of the scheme’s second phase, which is focused on the Swinfen Vale area of the site.
South East Coalville is Harworth’s largest residential development in its Midlands region. The 250-acre site is situated just two miles from Junction 22 of the M1, and has an outline planning consent for the creation of a sustainable new community of more than 2,000 homes.
The development comprises two distinct areas: Hugglescote Grange to the north and Swinfen Vale to the south, both named after surrounding villages.
The first phase of South East Coalville began in 2020, with land sold to Redrow for the delivery of 204 homes and Bellway for 166 homes, following extensive infrastructure works carried out by Harworth. Construction has already begun on Bellway’s first parcel of land at the site at Hugglescote Grange.
Earlier this year, Harworth began enabling works for the second phase of the scheme. This will see the delivery of additional homes, a local centre with convenience retail, a new primary school and other civic amenities.
A focus on environmental protection and enhancement is integral to the masterplan for South East Coalville. The completed site will feature 15 acres of parkland and amenity space, in addition to a 23-acre riverside green corridor along the River Sence. Further design elements will include an innovative energy efficient specification for the new school, the translocation rather than removal of hedgerows, and the creation of an Open Mosaic Habitat to boost biodiversity.
Andrew Blackshaw, Chief Operating Officer, Harworth Group plc, said: “Earlier this year, Harworth unveiled an ambition to double the size of its business over the next five to seven years. One of the key drivers of this growth will be accelerating sales and broadening the range of our residential products.
“With the completion of three land parcel sales representing over 500 housing plots in the space of two years, South East Coalville underlines our ability to deliver on this strategy.”
David Cockroft, Regional Director – Midlands, Harworth Group plc, said: “Harworth’s second sale to Bellway at South East Coalville demonstrates the demand for our well-designed spaces where people want to live and work, and our position as a trusted partner to housebuilders.
“We look forward to working with our partners to deliver these new homes alongside further amenities, infrastructure and green space as part of South East Coalville’s exciting second phase.”
