In a market where providers come and go, Frontier Software has remained a constant that can be relied upon and trusted to deliver when it comes to payroll software and services.
With a focus on payroll and HR and an ambition to provide first class products and customer service, the company goes from strength to strength with the indefatigable Michael Howard at the helm! East Midlands company receives global award during 40th anniversary year
Michael Howard, founder and Managing Director of Frontier Software plc, has collected a prestigious award at the Global Payroll Association (GPA) Awards held on 8 June in Edinburgh, Scotland.
Described by the GPA as a ‘disruptor in the payroll industry’, Michael was presented with the Judges Award, in special recognition of Frontier Software’s 40 years in the provision of payroll software and services worldwide.
At the event, which celebrates the global payroll industry, a delighted Michael collected the award from CEO Melanie Pizzey and judges David Spencer and Ana Ronco-Dumas. Michael, who founded Frontier Software in 1983, said he was honoured and especially proud to receive the award during the company’s 40th Anniversary celebrations.
Michael flew in from Melbourne, Australia to celebrate with solution providers and payroll professionals from across the globe, and then departed the next day for the office in Manila, Philippines.
Upon accepting the award, he thanked both the GPA and judges for recognising his active role within the payroll industry, and the work of Frontier Software, saying: “I am very proud of the company and all that it has achieved.”
He added: “Payroll is critical to every business and across 40 years Frontier Software has never stood still. There is always more that we can be doing, and we must keep listening, learning, and developing our solutions in line with the technology, legislation, and the demands of existing and potential new customers.”
In a market where providers come and go, Frontier Software has remained a constant that can be relied upon and trusted to deliver when it comes to payroll software and services.
With a focus on payroll and HR and an ambition to provide first class products and customer service, the company goes from strength to strength with the indefatigable Michael Howard at the helm!
In a market where providers come and go, Frontier Software has remained a constant that can be relied upon and trusted to deliver when it comes to payroll software and services.
With a focus on payroll and HR and an ambition to provide first class products and customer service, the company goes from strength to strength with the indefatigable Michael Howard at the helm! Next ups sales and profit guidance as trading beats expectations
In an unscheduled update Next has revealed better trading than expected, upping its sales and profit guidance for the year.
The Leicestershire-based company said: “Trading in the last seven weeks has been materially better than the guidance we issued in May and we are updating the market accordingly.”
Full price sales in the first seven weeks of the second quarter were up 9.3% versus last year. It compares to Next’s guidance of -5%.
In the period, Next has beaten its full price sales estimates by £93m. As a result the firm said: “We are upgrading our full price sales guidance for the full year by £137m and our full year profit guidance by £40m to £835m.”
Next has put the reason for the improved performance down to the onset of warmer weather, particularly coming after a wet and cold April, and, in an inflationary environment, increases in annual salary uplifting household income. Next added: “We do not think it is a coincidence that sales stepped forward so markedly at a time of year when many organisations make their annual pay awards.”
Frasers Group take 8.9% stake in Currys
Frasers Group is further growing its retail portfolio, taking an 8.9% stake in electricals retailer Currys.
It comes just a week after the Shirebrook-based business acquired a strategic stake of 18.9% in online electricals retailer AO World Plc. The £75m investment was said to be the culmination of productive talks over the last two years about establishing a strategic partnership. Frasers has since upped its stake to 21.3%.
Through the investment, Frasers Group said it would benefit from AO’s “valuable know-how in electricals and two-man delivery,” helping to drive growth in the firm’s bulk equipment and homeware ranges. In turn, Frasers said AO will have the opportunity to benefit from its expertise and ecosystem.
Frasers Group has also announced a £70m maximum share buyback programme.
Earlier in the month it was revealed that up to 200 jobs could be slashed at Frasers Group’s Shirebrook headquarters and in London as the retail giant tries to streamline processes.
Growth Hub celebration event sells out as European business funding support draws to a close
All tickets have now been reserved for a one-off event celebrating business growth success in Leicester and Leicestershire.
The LLEP Business Gateway Growth Hub organised the event to mark the conclusion of a partnership project – part-funded by the European Regional Development Fund (ERDF) – run by Leicester City Council, Leicestershire County Council, East Midlands Chamber, and the LLEP.
The event, on 23 June, will feature a host of local businesses and service providers.
It will be hosted by Jim Willis, Managing Director of digital agency Bulb Studios, and will include updates on future business support available from Leicester City Council, the county, and the LLEP.
The end of the project, on 30 June, means that the Business Gateway Growth Hub will return its focus to signposting local businesses to support available locally, regionally, and nationally.
Keynote speaker Tajinder Banwait will tell guests about the journey of her fragrance brand, Urban Apothecary London, from kitchen table in Leicester to 30 international markets.
Tajinder, honoured with a Queen’s Award for Enterprise last year in recognition of excellence in international trade, will also share tips as businesses from across the city and county gather to recognise outcomes of the Business Gateway Growth Hub.
Tickets have sold out for the showcase, which takes place at the Holiday Inn, St Nicholas Circle, from 9.30am to 2pm on Friday 23 June.
There is now a waiting list and anyone with a ticket who will not be able to attend is asked to let event organisers know.
Tajinder said: “I’m looking forward to sharing my story with the Leicester and Leicestershire business community, and in doing so I will hopefully inspire others.
“I’m proud of how far I’ve come and of Urban Apothecary’s Leicestershire roots and connections. By returning to where it all started for me I hope to encourage other local entrepreneurs to follow in my footsteps.”
A mini expo at the event will outline the Growth Hub’s ongoing offer and signpost businesses to further support.
Those attending the event will gain tips on business growth and be able to network with other business owners and entrepreneurs over a buffet lunch.
New associate director for Armsons Barlow
Derby-based project managers, construction cost consultants and building surveyors Armsons Barlow have appointed Ryan Thompson as associate director.
Ryan takes on the new role eighteen months year after joining the company as a senior quantity surveyor.
Prior to joining Armsons Barlow, Ryan spent 10 years working as a quantity surveyor and project manager and gained experience of delivering a variety of schemes ranging in value across several sectors.
Coming from a main contractor’s background, Ryan also has a strong grounding in managing costs, from estimating through to final account stages, including tracking and appropriately valuing variations.
Since joining Armsons Barlow, he has delivered a diverse range of project management, quantity surveying and cost management services to both private and public sector clients.
Ryan is currently managing several high-profile projects, including the new office HQ for Molson Coors Brewing Company and a new 127,000 sq ft warehouse for storage and logistics firm ATL.
In his new role as associate director, Ryan will manage a small team of surveyors and lead the company’s services on a portfolio of schemes for one of its key clients.
Commenting on his new role, Ryan said: “I’m thrilled to have been appointed to the role of associate director at Armsons Barlow eighteen months after I joined the company.
“In my new role I hope to use my experience over the past decade to continue to deliver the highest levels of services to our broad client base across the UK.
“This marks a new chapter for me at Armsons Barlow, and I look forward to continuing to learn and work alongside a great team of colleagues.”
Josh Toon, director of Armsons Barlow, added: “We’re delighted to announce Ryan as associate director and are confident that he’ll thrive in his new role.
“His progression from senior quantity surveyor to associate director in such a short space of time is testament to his hard work and commitment to the company and its clients. We look forward to seeing his continued progression over the coming years.
“Ryan is a real team player, which enables us to provide clients with a consistently first-class service and achieve the most cost-effective delivery of their project objectives.”
Corporate insolvencies surge by over 50% as businesses battle high prices and borrowing costs
A month-on-month surge of over 50 per cent in the number of corporate insolvencies in England and Wales highlights the toll that three years of economic turmoil is taking on local businesses, with increasing numbers of companies expected to turn to an insolvency process over coming months to help resolve their financial issues.
This is according to the Midlands branch of the UK’s insolvency and restructuring trade body R3 and comes on the back of latest figures from the Insolvency Service which show that corporate insolvencies jumped by 51.2 per cent in May 2023 to a total of 2,552 compared to April’s total of 1,688, and by 39.8 per cent against May 2022’s figure of 1,825.
Furthermore, the May 2023 corporate insolvency levels shot up by 151.9 per cent in comparison with May 2021’s total of 1,013 and by 170.3 per cent against May 2020’s total of 944. Corporate insolvencies also increased by 89.3 per cent compared to the pre-pandemic figure of 1,348 in May 2019.
R3 Midlands chair Stephen Rome, director of law firm Thursfields in the region, said: “These corporate insolvency figures are the highest we’ve seen since January 2019, as the fallout from battling the effects of the pandemic – coupled with rising costs, increased creditor pressure, and high inflation – is causing more businesses to turn to an insolvency process.
“The key driver of the rise in numbers is the increase in Creditors’ Voluntary Liquidations, which are at a near four-and-a-half year high, and more than double the number they were in May 2019. Many directors are running out of time and options, liquidating their businesses before the choice is taken away from them.
“Firms are operating in a market where consumers are spending cautiously, costs are increasing and suppliers are chasing debts in an attempt to manage their own cashflow challenges. This is creating a tough climate for businesses of all sizes at a time when they need an injection of cash.
“While the summer months might provide some relief from energy costs, firms will have to pay to keep their premises, staff and customers cool, which will hit any potential savings.
“Going forward, interest rates and inflation will continue to create challenges for businesses seeking funding over the summer, which could be the tipping point for those companies on the brink of insolvency.
“Directors need to remain vigilant to signs of corporate distress and seek advice if they start to see stock levels increase, cashflow become an issue, or if there are issues paying rent, staff or bills. Seeking appropriate support as early as possible will give more potential solutions than acting only when problems become more severe.”
Investment firm behind Pinewood film studios joins list of Center Parcs bidders
The investment firm behind Pinewood film studios has been added to the list of bidders for Nottinghamshire-headquartered Center Parcs.
The real estate investor, Aermont is expected to put forward an indicative offer for Center Parcs, according to reports from Sky News. Center Parcs was put up for sale last month (May) by Brookfield with a £4-5bn price range.
It follows news that Singaporean sovereign wealth fund Government Investment Corporation (GIC) is in talks regarding a joint bid for Center Parcs with private equity investor KSL Capital Partners, and reports that a vehicle managed by private equity giant CVC Capital Partners was considering putting forward an offer to buy the holiday resorts chain’s six UK and Ireland sites.
Infrastructure funds, including Antin, are also exploring offers for the company, according to Sky News’ city sources.
The first UK Center Parcs location opened at Sherwood Forest in Nottinghamshire in 1987. Today, Center Parcs serves over 2 million guests per year with a 98% occupancy rate.
Botham Accounting appoint Healthcare & Property debt advisory specialist
Botham Accounting, the Nottingham-based accountancy firm, have appointed Wes Hodelin and launched a dedicated debt advisory service for clients – Botham Capital.
The boutique accounting practice who have a team of 40 and have seen year on year growth of 25%, specialise in the healthcare and property sectors with a nationwide client base.
Wes brings with him 16 years’ of financial services experience, 10 years of which have been dedicated to healthcare and property financing. The majority of his career was spent in commercial banking and client coverage at RBS Group as a relationship manager, then at Santander Corporate as a relationship director. His most recent role was director of healthcare at MAF Finance Group, providing independent advisory and brokerage services to healthcare groups and property investors across the UK.
Wes, who has experience working with funders from across the capital spectrum, from private credit and hedge funds through to bridging lenders and high street banks, said: “I am delighted to be joining the Botham Accounting team, having worked closely with them on several transactions where my origination, structuring and execution expertise have combined with Botham’s robust financial modelling and due diligence services.
“The debt advisory practice will bring this all together under a single proposition which will serve to improve the client experience whilst making transactions efficient for all involved. Given Botham Accounting’s position as a mid-market boutique, and my track record of delivering funding in the £1m to £50m space, I am excited about unlocking the significant value our new and disruptive service will add to those who choose to engage us as advisers.”
Tom Gregory, director of Botham Accounting, said: “We’re thrilled that Wes has joined us. Having Wes on board will enhance our offering to both existing clients as well as new clients. In addition to work such as accounts preparation and audits we’re spending an increasing amount of time on transactional work so having Wes’ involvement and his experience will be invaluable.”
East Midlands refreshment companies merge
East Midlands refreshments companies R+R Hub and Posh Nosh are merging, resulting in a predicted combined turnover of over £2m in the next financial year, and the joining of more than 30 staff.
Posh Nosh have more than 20 years of experience as a corporate caterer. Rhona King, the Managing Director, started her journey in 2001, when an opportunity arose to rename her company at that time, to Posh Nosh, from a competitor who was in the process of retiring.
Soon to join the business was Rob King, now the commercial director of Posh Nosh. The team has grown over the last 20 years to now include a multi skilled work force, of caterers, drivers, and a customer service team.
R+R Hub on the other hand, is comparatively new, born out of a continued demand of a variety of vending solutions from their sister company, Cema Vending. R+R Hub saw an opportunity to meet more customer demand by providing workplace refreshments in commercial settings, with concepts such as Micro Markets.
“This is such an exciting opportunity for everyone involved,” said Rhona King, Managing Director of Posh Nosh. “This move means that we are all looking forward to the future. We have some ambitious growth plans, so make sure that you watch this space for some exciting developments.”
Simon Leadley, Managing Director of R+R Hub, described the merger as “a perfect fit.” He explained that “two local businesses combining to offer the complete solution will mean that the best possible service can now be provided to our customers.”
Work completes on £23m urban logistics development in Wigston
Developer Chancerygate has achieved practical completion on a 128,000 sq ft Grade A urban logistics scheme in South Wigston, near Leicester, which has a gross development value in excess of £23m.
Known as Genesis Park, the development comprises 15 urban logistics units ranging from 4,800 sq ft to 18,570 sq ft which are available on a freehold or leasehold basis.
Located close to a Tesco superstore, Lidl and Wickes, the development is just over five miles south of Leicester city centre and is also well connected to the M1 and M69.
All units at Genesis Park feature electric vehicle charging points, secured cycle parking and 15 per cent roof lighting.
In addition, the units are constructed from high-performance building materials to reduce CO2 emissions. The scheme has a BREEAM rating of Very Good and the units have an EPC rating of B.
Chancerygate development director and head of its Birmingham office, Mark Garrity, said: “Genesis Park is a fantastic new addition to South Wigston’s well-established warehousing and logistics area.
“Our new development provides occupiers with much-needed sustainable, high specification urban logistics accommodation in a well-connected strategic location within the East Midlands.
“We have every confidence Genesis Park will be an enduring economic asset for the area, ensuring businesses are best placed to grow and deliver ongoing job creation.”
Agents for Genesis Park are Avison Young, Phillips Sutton and JLL.
