Just two years after being saved from closure, a Derby shop is thriving – with turnover up by more than 70%. Castle Blinds, based in Chaddesden, has seen its order book more than double since being bought out by former employee Myles Hayhurst in 2023. Myles, who is a trained carpenter, stepped in when the previous owners decided to sell the business after 26 years. Since then, Castle Blinds has expanded its team with three new employees, extended its premises and added two new vans to its fleet. The company provides homeowners across Derbyshire and Nottinghamshire with blinds, curtains and shutters and the firm has also landed a string of commercial contracts across the Midlands. The company now counts Derbyshire County Cricket Club, HUUB, Hannells, JCB, and Derby County Football Club among its commercial clients. Other notable names include Wathall’s, MasterMover, Derby City Council, and Queen’s Hospital, in Burton. Myles said: “While we still provide plenty of residential customers with curtains and blinds, the commercial side of the business has grown enormously over the last two years. We’ve taken on some really significant projects and built relationships with organisations we’re proud to work with. “Securing contracts with names like Derby County and JCB has been a huge boost, not just financially but for the team’s confidence too. It shows we’re moving in the right direction.” Looking ahead, Myles plans to secure a new building to house a dedicated manufacturing facility.

Inflation continued to rise in July, according to new figures from the Office for National Statistics (ONS). Measured by the Consumer Prices Index (CPI), inflation was stronger than expected at 3.8% in the 12 months to July, up from the 3.6% reported in June. On a monthly basis, CPI rose by 0.1% in July 2025, compared with a fall of 0.2% in July 2024. Transport, particularly air fares, made the largest upward contribution to the monthly change. Core inflation, meanwhile, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, came in at 3.8% in the 12 months to July, up from the 3.7% in June. Martin Sartorius, principal economist, CBI, said: “Inflation ticked up slightly in July, broadly in line with the Bank of England’s expectations. Higher energy and regulated prices continue to put upward pressure on inflation, and the increase in labour costs following last year’s Autumn Budget are also feeding through. “Today’s inflation data will reinforce the Monetary Policy Committee’s cautious approach to cutting interest rates going forward. While inflation is projected to ease next year, the risk of second-round effects means that the MPC will not race to loosen policy in the near term. We expect that the MPC will keep rates unchanged in September, as it waits to see how inflation and labour market data develop going into the autumn.”

A levelling out of the monthly number of corporate insolvencies in England and Wales is adding weight to signs that the broader economy is showing tentative indications of recovery. This is according to the Midlands branch of the UK’s restructuring, turnaround and insolvency trade body R3 and comes on the back of figures published yesterday (19 August) by the Insolvency Service which show that corporate insolvencies increased only marginally by 1.4% in July to a total of 2,081 compared to June’s total of 2,053, and rose by only 0.1% against July 2024’s figure of 2,078. R3 Midlands chair Stephen Rome, a partner at law firm Penningtons Manches Cooper in the region, said: “Corporate insolvencies remained broadly stable last month, with the trends showing a rise in Compulsory Liquidations and a slight uptick in Administrations, while Creditors’ Voluntary Liquidations and Company Voluntary Arrangements fell. “This pattern may suggest that fewer directors are choosing to close their companies voluntarily, whether because they are seeing improvements in trading conditions or they are caught in a holding pattern, waiting to see where the economy may next head. “The broader economic picture is showing tentative signs of recovery, following a weak April and May, when some spending may have been brought forward in anticipation of higher prices. Economic activity picked up in June, helping Q2 GDP to grow by 0.3%. “While this represents only modest growth, it is encouraging to see the economy moving forward rather than stalling. Coupled with the recent cut to interest rates, the outlook for businesses appears slightly more positive, though it is too soon to gauge the full effect, and above target inflation remains a concern. “R3’s message to local businesses is to remain cautious. Challenges exist for both retail and hospitality, where higher costs, changing consumer habits, and uneven demand continue to make trading conditions difficult. “Within retail, the difficulties appear concentrated among individual retailers rather than the sector as a whole, with some larger high-street brands being outpriced and outperformed by cheaper online, alternatives as shoppers seek the best value. “Construction remains one of the sectors most affected by insolvencies. While it is encouraging to see output rising, many businesses are still facing challenges. Supply chain pressures, skills shortages, and changes in the housing market mean the environment for construction firms continues to be complex and unpredictable, even as overall activity shows some improvement. “Ultimately, any business owners worried about their company’s finances should seek professional advice as soon as possible. Most R3 members will give prospective clients a free initial consultation to learn more about their situation and outline the potential options open to them to improve it.”