Wilko considers CVA as turnaround plans accelerate

Nottinghamshire retailer Wilko is considering entering into a company voluntary arrangement (CVA), according to reports by Bloomberg. The CVA could help Wilko to renegotiate rents and agreements with creditors and potentially close shops, as the company looks to cut costs. PwC is said to have been approached to explore restructuring options. The news comes as Wilko looks to stabilise the business and accelerates its turnaround plans. In February (2023) the household and garden retailer formed a new senior leadership team and revealed a number of roles would be lost. Wilko was set to cut 400 jobs. Wilko is the UK’s 23rd biggest retailer, employing 16,000 team members. It operates 400 stores across the UK.

Net Zero firm doubles turnover

One of the first companies in the UK to help businesses reduce their carbon footprint is celebrating huge success after doubling its turnover in the space of a year.

Viridis, based in Collingham, near Newark, Nottinghamshire, designs and project-manages solutions for businesses and organisations to minimise the carbon output of their buildings and make them more energy efficient.

Following a slow first year of trading in 2012, before Net Zero was a widely recognised concept, the firm experienced an impressive 2,500 per cent growth up to the end of March 2022. 

Having reached a point over several years where annual sales were in the hundreds of thousands, it has been benefiting from a growing interest in the impact that our lives and businesses have on the environment.

Now, with added pressure for firms to prepare for the UK Government’s Net Zero target in 2050, sales have continued to go through the roof and, in the last 12 months alone, Viridis has doubled its record income of last year.

Yet, despite forecasting that business will increase by a further 50 per cent by March 2024, the firm does not expect to be adding to staff numbers much beyond its current team of seven.

Lee Marshall, founder and Managing Director of Viridis, said: “We’re on the cusp of a really big push forwards in business terms. 

“Back in 2012, no one was doing what we set out to do. It just wasn’t on the agenda for businesses, at least nowhere near as much as it is now. 

“We are now reaping the rewards of being Net Zero pioneers and are moving to the next generation of innovation. 

“With so many proven projects already under our belt, we have gone through the learning curve. We are actually designing building decarbonisation solutions at a 2030 level and have been doing so since probably 2014.”

Lee said that his team, made up largely of environmental and design engineers, were all highly creative individuals who spent their working lives searching for increasingly innovative Net Zero solutions. 

“This is why we won’t be increasing staff levels beyond some additional administrative assistance,” he said. “We will handle the increased workload simply by being more innovative, as we have always done.”

The team at Viridis, which also has a base in Stirling, Scotland, uses its science, engineering and environmental expertise to create plans both for buildings still at development stage and existing older buildings. This could involve things like the installation of heat pumps and photovoltaic panels to improving insulation, lighting sources and ventilation.

The firm also offers a wider Net Zero auditing service to businesses, where it will recommend a series of measures that an organisation could take in order to achieve the Government’s Net Zero target well before the 2050 deadline.

Lee said: “We’re all going to have to go down this road eventually, so businesses are wise to begin their journey as soon as possible. 

“Amongst all the other environmental and statutory benefits, our solutions invariably slash energy bills overnight which, in the current climate, could mean the difference between survival and failure of a business.”

Viridis has been responsible for major cost, energy and environmental savings at numerous buildings across the UK, whether commercial, residential, heritage, leisure, community or education.

It helped to achieve a BREEAM Excellent accreditation in 2014 for the Newark & Sherwood District Council offices. BREEAM is the world’s longest established method of assessing and certifying the sustainability of buildings.

Other Viridis clients over the years have included Loughborough College, where the team reduced energy consumption by a third in one of the campus buildings, and Wheeler Gate, a mixed-use development in the Grade II-listed Cavendish Building and Wheeler House in Nottingham, which achieved an EPC rating of B, with an operational energy that exceeded the RIBA 2030 Challenge.

D2N2 invites applications for growth fund finance

The D2N2 Local Enterprise Partnership has launched a call for new capital projects to help deliver on economic growth by tapping into its Economic Growth Fund. The LEP wants to support key strategic capital investments across the region. All projects must involve capital expenditure which delivers an end asset related to the generation of jobs, homes and/or learners; no revenue submissions will be accepted to this funding round. D2N2 Chair Elizabeth Fagan said: ”Our vision for the region is to continue to grow the economy and, in particular, address our productivity and inclusion challenges. Therefore, through this call for proposals, we are seeking to tackle these issues head-on through co-funded partnership projects. All projects must deliver at least one of our key output metrics of jobs, homes and learners, and it is preferable that the projects will also support low carbon outputs and support inclusive growth.”   All funding applications should be capped at a minimum investment value of £500k from D2N2 funding and a maximum value of £2.6m. All applications must demonstrate value for money from the project and align to the principles of the HM Treasury Green Book. D2N2 is the Local Enterprise Partnership for Derby, Derbyshire, Nottingham and Nottinghamshire, and its role is to work with our partners to drive a strong vision for economic growth and prosperity for the region. All submissions will be required to deliver on the following principles to merit consideration for funding:   Strategic alignment: 
  • Align with the core principles of D2N2 Recovery and Growth Strategy  
  • Show a need for external intervention for funding 
  • Project requires capital and not revenue funding 
  • Comply with Subsidy Control measures 
 Impact: 
  • Demonstrate supporting economic growth to the D2N2 economy through the delivery of jobs, homes and learners 
  • Deliver Value for Money from the D2N2 investment 
 Conditions of the Economic Growth Fund: 
  • A demonstration of match funding towards any project of up to 50% 
  • Projects must be able to start delivery in the 2023/24 Financial Year  
  • Only one project to be submitted by each organisation. Further projects will not be scored and the organisation is required to indicate that they have agreed to prioritise the submitted project.  
Timelines
  • Expression of interest documentation publicised, and consultation process opened – 18th May 2023
  • Submission deadline for all bids – 23rd June 2023 (5pm)
All questions and enquiries should be directed to info@d2n2lep.org before 9th June 2023  

Cement firms unite to form ‘Peak Cluster’ for carbon capture project

Five cement and lime plants in the Derbyshire Peak District and Staffordshire Moorlands have combined to form the Peak Cluster, aiming to cut annual carbon emissions by three million tonnes a year from 2030 – a quarter of annual output for the area. They’re owned by Aggregate Industries, Breedon, Lhoist and Tarmac, together with the Lostock Sustainable Energy Plant in Cheshire. Aggregate Industries’ cement plant in Cauldon, Staffordshire, which employs 125 people and produces up to a million tonnes of cement a year, is part of the project. Being led by Progressive Energy, it aims to capture and transport carbon dioxide emissions from Cauldon and other partner plants before permanently locking it away beneath the East Irish Sea in one of the storage options which the project has access to – including Liverpool Bay CCS or the recently announced Morecambe Net Zero project. Carbon dioxide emitted from the cement and concrete industry accounts for around a quarter of the total emissions in Derbyshire and Staffordshire, with 40% of all UK cement and lime manufactured in the Peak District and surrounding area. Dragan Maksimovic, CEO for Aggregate Industries said: “The cement industry hugely contributes to the economy and supports jobs nationally and locally at our Cauldon plant. As a key player in the market, we recognise our responsibility to drive sustainable transformation. “Peak Cluster will help us and our partners cut annual carbon emissions by a quarter in Staffordshire and Derbyshire. That is a game changer. “A key driver for our whole business is greening our operations and helping to lead the way in decarbonising the industry. To become a net-zero business and to help the UK to reach its Net-Zero targets we must take positive action now. “Last week we launched the Aggregate Industries Net Zero Strategy which outlines what we are doing today and will do in the years to come to zero our carbon emissions before 2050. Carbon capture, utilisation and storage is a vital component in that objective.” Progressive Energy’s John Egan, Peak Cluster Project Director, said: “Peak Cluster will make a crucial contribution towards the UK’s drive to net zero, making a serious impact on local, regional and national climate change targets. “The project will help industry to continue to thrive into the future – safeguarding jobs, maintaining a booming supply chain and allowing current and future generations to continue to work in, and enjoy, this beautiful region.” The cement and lime sector is a key part of a combined mineral products industry, which contributes around £18bn to the UK’s GDP and directly employs 81,000 people, supporting a further 3.5m jobs.

Chesterfield estate agency achieves national recognition for fifth successive year

A Chesterfield Estate agency has once again been recognised as one of the best in the UK, achieving the prestigious ESTAS ‘Standard of Excellence’ for the fifth year in a row. Pinewood Property Estates has recieved the accolade based on the service ratings it achieved via customer reviews, submitted to the ESTAS review platform. The reviews have been completed at the end of the moving experience, and ESTAS monitors service ratings over a 12 month period. It gives a highly accurate overview of the standard of service that has been delivered to customers. The ESTAS ‘Standard of Excellence’ provides a kitemark, demonstrating the consistent service performance of every firm that has been shortlisted in 2023. The ESTAS Awards honour the best agents, conveyancers and mortgage brokers in the UK. The awards are powered by the ESTAS online customer review platform, which enables property professionals to demonstrate the customer service standards they deliver for their clients. ESTAS strict verification process ensures reviews are genuine. This year’s shortlist has been calculated following the evaluation of 300,000 customer review ratings. The regional and national winners will be announced in October at the prestigious annual ESTAS ceremony held in London.  The awards will be presented by the UK’s favourite property expert Phil Spencer in front of 1,200 of the UK’s top property professionals. Mr Spencer said: “The ESTAS Awards are based on real feedback, from real clients experiencing real service so they provide genuine proof of the service levels that a firm is delivering to clients. Now more than ever, high quality customer service is crucial if home movers are going to realise their dream of getting the property they set their hearts on.” Simon Brown, founder of ESTAS says: “At ESTAS we’re creating a community for best practice property professionals who all share a passion for delivering great service and a belief that service really does matter.” Pinewood MD Stacey Davies-Bowler said: “Once again we find ourselves shortlisted for these prestigious awards for the 5th year running, I have to pinch myself each time this happens and each time we come away with silverware. It makes me so proud that the team continue year on year to offer exceptional customer service to all our clients. Long may this continue.”

From kitchen table to the world! Urban Apothecary founder to share her business journey

Beauty industry stalwart Tajinder Banwait will describe the journey of her fragrance company from kitchen table to international audience during a special event celebrating local businesses. Urban Apothecary started life in Leicester in 2012, going on to supply the likes of The Conran Shop, Selfridges, Fenwick and 30 international markets. Tajinder, honoured with a Queen’s Award for Enterprise last year in recognition of excellence in international trade, will describe how she did it during a keynote speech next month. And she will tell fellow business owners how she worked with the LLEP Business Gateway Growth Hub during the development of Urban Apothecary. You can register now to attend the free event, which will bring together businesses from across the city and county to acknowledge success among firms supported by the Growth Hub over the last four years. The special event, which takes place at the Holiday Inn, St Nicholas Circle, Leicester, from 9.30am to 2.00pm on June 23, will also guide business leaders towards support which is currently available. Existing services will change from July 1, with the conclusion of four years of European Regional Development Fund (ERDF) support provided to the LLEP Business Gateway Growth Hub. Since autumn 2019, more than 100 businesses have received a total of more than £1.8m in capital grants. Meanwhile, the LLEP Business Gateway Growth Hub has provided almost 5,000 hours of intensive business advice to 414 small and medium-sized businesses. The existing service is run in partnership by Leicester City Council, Leicestershire County Council, the East Midlands Chamber and the Leicester and Leicestershire Enterprise Partnership (LLEP). Although the European funding will end on June 30, the LLEP Business Gateway Growth Hub will continue to signpost to local, regional and national support available to the Leicestershire business community. Sonia Baigent, LLEP Board Member and Chair of the LLEP Business Board, said: “The landscape might be changing when it comes to European funding, but there is still a wealth of support on offer and the Growth Hub is well-placed to steer businesses to what they need to succeed. “The Growth Hub team are extremely experienced in signposting local businesses towards advice, new markets, and investment – as we will hear at the event next month.” Those attending the event will gain tips on business growth, and make connections with support providers during a mini-expo of service providers. They will also be able to network with other business owners and entrepreneurs over a complimentary buffet lunch. Places are limited and early booking is recommended.

Mechanical & electrical building services firm to be wound up

Northampton mechanical & electrical building services firm Ambivent Limited is being wound up after 33 years of trading. The business’s Board of Directors had been working with proposed administrators, Begbies Traynor, to explore the options available for the business, including seeking a buyer for the company. This search was being handled by Eddisons Commercial Limited. The collapse impacts Ambivent Limited only, and does not affect the other companies in Ambivent Group, including Ambivent Facilities Management Limited, which remain profitable businesses. A statement from Ambivent Limited says: “Today Thursday 18th May 2023 we make the hardest of decisions to wind up Ambivent Ltd after 33 years of trading. Having been a family and home to all our brilliant staff it is sad to let so many of you go your separate ways, but we wish you well on the next chapter of your careers. “We thank our loyal clients and supply chain for your service, friendship, and dedication throughout the years. “The Ambivent Group lives on via Ambivent Facilities Management and continues to offer Service & Maintenance, Breakdowns & Repairs, and small works M&E projects.”

Showcase outstanding property and construction firms at the East Midlands Bricks Awards 2023

With the East Midlands Bricks Awards 2023 picking up pace, showcase your business, team and projects by submitting an entry for the esteemed event. The awards celebrate the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools. Shine the spotlight on your team, reward their efforts, and boost morale. Winners will be revealed at a glittering awards ceremony on Thursday 28 September, at the Trent Bridge Cricket Ground – an evening also offering an opportunity to establish new connections with property and construction professionals from across the region. The event will also feature Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, as keynote speaker.

After winning two awards at the 2022 event, William Crooks, Managing Director of Cawarden, said: “It was fantastic for Cawarden to be presented with not one but two prestigious awards at this year’s Bricks Awards. We received the Contractor of the Year title for the second year in a row, which is absolutely fantastic to be recognised again for our project and service delivery expertise.

“Despite the challenging landscape, we’ve had an exceptional year, achieving sustainable growth whilst delivering a diverse range of projects for some of the UK’s leading clients. To then pick up the Responsible Business of the Year title was the icing on the cake. We’re committed to improving the image of the industry, and we strive to raise the bar for our people, the planet, and the community. To receive an award for our recent achievements is wonderful.

“A big thank you to the judges and congratulations must also go to all the other award finalists and winners. The event was a real showcase for the regional property and construction sector, and we are more than proud to be part of it!”

To nominate your (or another) business/development for the East Midlands Bricks Awards 2023, please click on a category link below or visit this page.

Book your tickets now

Tickets can now be booked for the awards event – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge County Cricket Club from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:                                                             To be held at:

Totally secures multiple contract extensions totalling £12m

Totally plc, a Derby-based provider of frontline healthcare services, corporate fitness and wellbeing services across the UK and Ireland, has secured multiple contract extensions for a range of urgent care services delivered across the North of England and the Midlands valued in total at £12 million.

The contract extensions vary in length between six and 12 month periods and cover a range of urgent care services including NHS 111, GP OOH and Clinical Assessment Services (CAS) in Staffordshire, Yorkshire and Northumberland.

Wendy Lawrence, Chief Executive Officer of Totally, said: “We have been providing NHS 111, GP OOH and CAS services across Staffordshire and the North East for more than 10 years and I am delighted that we can continue to deliver these essential services.

“Contract extensions make an important contribution to future revenue by securing the continuation of existing contracts beyond their original term. This demonstrates the strength of our relationships with commissioners and the quality of services we deliver.”

Oncimmune sells subsidiaries for £13m

Oncimmune Holdings, the Nottingham life sciences group, has sold its wholly-owned subsidiaries, Oncimmune Limited (including the CE-marked IVD EarlyCDT Lung blood test, antibody platform and research and development pipeline) and Oncimmune Europe GmbH to Freenome Holdings for £13m. Oncimmune will continue to operate its ImmunoINSIGHTS business, primarily through its subsidiary Oncimmune Germany GmbH. Freenome is a US-based private biotechnology company with a comprehensive multiomics platform for the early detection and early intervention of cancer using a standard blood draw. This acquisition of Oncimmune Limited will complement Freenome’s frontline screening efforts, both clinically and commercially. Oncimmune Limited’s pipeline of autoantibody targets for other cancer indications will augment Freenome’s multiomics platform with additional non-tumor-derived signals. Dr Adam M Hill, CEO of Oncimmune, said: “We are delighted to pass the EarlyCDT technology platform and pipeline of autoantibody targets for other cancer indications to Freenome to advance Freenome’s multi-cancer early detection screening pipeline. “We have confidence that in their hands and with our teams’ expertise, the full potential of the technology will be unlocked to the benefit of patients. Having now completed the sale, the group will focus on driving profitable growth in our ImmunoINSIGHTS pharma services business. “Signing the MSA between ImmunoINSIGHTS and Freenome also adds Freenome as a new major client alongside 7 of the top 15 global pharma companies who use the ImmunoINSIGHTS platform.” Mike Nolan, Chief Executive Officer of Freenome, said: “Oncimmune and Freenome share a deep commitment to patients and this acquisition is consistent with Freenome’s holistic solution to cancer detection. “Oncimmune’s track record of translating innovative technologies into mainstream clinical use, now being integrated with Freenome’s platform and team, strengthens our multiomics approach to make an even greater impact for patients across a range of indications.”