Chilled Pubs Group snaps up modern food grade unit in Derbyshire
Burton-based commercial property agents, Rushton Hickman Ltd, has let a 5,163 sq ft (479.7 sq m) modern food grade specification unit to the Chilled Pubs Group for their in-house storage, food preparation and brewing purposes.
The property is located on Oaklands Farm, Coton Lane, Walton-on-Trent, and is fully insulated, including wipe down walls, cold store, resin flooring and internal drainage.
The Chilled Pubs Group are a well-established chain of local pubs specialising in high quality food offerings sourced from local suppliers.
Chilled Pubs commercial director, Travis Toyne, said: “We have a simple philosophy – seriously good food, in an unserious way!
“We chose this location as it is central to our current pubs and was only 1 mile from our previous smaller unit where the central team used to operate from. We needed somewhere that ticked the boxes for the company, but also our team who already worked in our central kitchen.
“We chose this unit as it gives us gives us consistency across our pubs, offers great growth opportunities, and the biggest opportunity for us is to be able to utilise the location of being on a dairy farm and explore the possibility of making Jersey Milk Gelato, having our own milk, and making our own butter.”
Rushton Hickman commercial property agent, Simon Walker, said: “I met Travis at another property, which didn’t quite meet with his requirements and advised him that he should view the unit that he has now leased without delay.
“I arranged access with my client and we both headed off to view that unit immediately, as finding the right property and completing the lease within a swift timescale was particularly important to Travis. Naturally, Chilled Pubs, the landlord and Rushton Hickman are all delighted to have completed on this lease deal.”
Further deadline extension for Pendragon takeover bid
Nottingham-headquartered car retailer Pendragon has further extended the ‘put-up or shut-up’ deadline for Hedin Group to make its firm offer for the business, though has said “there can be no certainty that a firm offer will be made.”
The Hedin Group, which has over 200 car dealerships, is a family-owned company with operations mainly in the sale and service of vehicles, wholesale of spare parts and tires for vehicles and rental car operations.
Back in September Pendragon received an unsolicited, preliminary and conditional proposal from Hedin Group regarding a possible cash offer for the entire issued and to be issued share capital of Pendragon at 29 pence per share, valuing it at £400m.
Then on 24 October, Pendragon confirmed that the put-up or shut-up deadline had been extended to 21 November to allow Hedin Group to finalise its necessary due diligence.
Now, “in order to finalise the necessary transaction documentation,” the company has requested and been granted an additional extension to the date by which Hedin Group is required either to announce a firm intention to make an offer for Pendragon or to announce that it does not intend to make an offer.
This must now be made by 9 December 2022.
Another bid for the firm however may yet be made, following speculation reported by The Telegraph that Constellation Automotive, the group behind Webuyanycar and Cinch, could launch a rival offer. Pendragon recently found itself embroiled in a $60m ransom demand after a cyber security breach.Black Friday: East Mids cyber security expert warns shoppers to be vigilant
Cyber criminals will be looking to exploit shoppers during the Black Friday sales – an expert from East Midlands cyber security firm CSS Assure has warned.
People in the UK are planning to spend an estimated £3.95bn on Black Friday (25 November) and Cyber Monday (28 November) purchases this year, according to research by comparison site Finder.
Mike Wills, director of strategy and policy at cyber and data security firm CSS Assure, said bargain hunters lowering their guards during the rush to bag the best deals are at greater risk of malicious threats.
He added: “In the run-up to and during Black Friday and Cyber Monday, many outlets will run promotional offers to encourage spending. This is a potentially lucrative time of year for cyber criminals as they know shoppers are less vigilant as they rush to snap up the best deals.
“Cyber criminals will no doubt be looking to take advantage of the vast amount of transactions taking place and the financial information being shared as a result. There is also an increase in promotional email traffic, which makes it hard to differentiate the real bargains from scams – presenting a heightened risk of phishing attacks.
“With this in mind, it is important consumers take steps to protect themselves and their families during two of the biggest shopping days of the year.”
Password management
“Firstly, shoppers should change their passwords right away. While this is a faff, it is the single greatest defence you can make to protect yourself against a cyber attack and will instantly make you much safer online.
“Currently, there are millions of emails and passwords for sale on the dark web, which have been breached by companies that have not protected people’s personal data sufficiently. Cyber criminals can buy this data for minimal amounts of money and gain access to your emails.
“They will look for social media accounts and online high street accounts and test your combination to gain access. From this, they can gather more personal data until they have enough to conduct identity theft, which could result in credit being taken out in your name or using your saved payment cards to make online purchases, for example.”
Personal data breach identification
“It is a good idea to understand whether your data has been breached so you can put in place other necessary measures to protect yourself. To do this you can use a free service provided by Have I Been Pwned. All you need to do is enter your email address and the site will tell you whether it is associated with a breach and if so, what other data has been stolen.
“If you have been breached, it is even more important that you change your password to break the chain. Next, you need to understand whether you have been entered into any spambots – as the name suggests, these are bots that send spam to you.
“While some spam is laughable, others are highly credible. If you’re rushing, there’s a higher change you will click a link in a spam email, which could execute malware or ransomware on your device.
“Unfortunately, the only way to rectify and avoid your exposure to spam – and, in turn, the chances of clicking on a malicious link – is by changing your email address. This is best done by transitioning email address information on websites over a period time. While this is an arduous task, it is an effective and vital way to protect yourself.”
Check your anti-virus protection
“Finally, make sure your anti-virus protection is installed, activated with a valid licence and updated. While free anti-virus software is available, in life you get what you pay for and it may not protect you sufficiently. Competition to provide the best anti-virus changes year on year between the main vendors as they achieve technology breakthroughs in response to the evolution in cyber threats.
“The best thing to do is check reputable tech websites for reviews of the best current anti-virus software. We recommend buying a one-year licence, and then when it comes to renew, assess which company has moved to the forefront of anti-malware protection. There will always be new customer deals to be had.”
Proposed Long Eaton Cultural Hub development scrapped to secure other regeneration projects
Richard Ledger, chairman of the Long Eaton Town Board, has backed a decision by all of its members bar one to close down the proposed £5.59 million Box Office Cultural Hub development in favour of securing remaining regeneration projects and to resurrect the previously mothballed Britannia Road Canal Bridge as part of the Long Eaton Walking and Cycling project.
The decision “was not taken lightly” by the board, which is made up of independent members from the Long Eaton business and voluntary community as well as representation from the local authority and other organisations. It was agreed at the meeting that the £5.59m would be reallocated to other projects to help offset rising inflation and other cost pressures.
The other projects that will benefit from a much welcomed cash injection will include the Galaxy Row development receiving an additional £0.68m; the Long Eaton High Street and Derby Road Junction projects will receive a further investment of £1.7m and £1.6m respectively to mitigate inflationary and other cost pressures.
The Britannia Road Canal Bridge, previously withdrawn due to a lack of funds, will now be reinstated thanks to reallocated support of £1.61 million and will offer a much welcome addition to the Long Eaton Walking and Cycling project.
Richard Ledger, chairman of the Long Eaton Town Board, says: “Whilst it has been an extremely difficult decision to close the Box Office Cultural Hub project, we are pleased to see the Britannia Road Canal Bridge reinstated and the reallocated funding helping to secure other developments that have been challenged by rising inflation and other cost pressures. I look forward to sharing progress in the near future as the Board continues to work hard to make a real difference and deliver regeneration for Long Eaton.”
J Tomlinson awarded two-year contract for council home improvements
A new contractor has been appointed to deliver improvements to council homes in Charnwood.
J Tomlinson, a property maintenance firm, has been awarded a two-year contract by Charnwood Borough Council to deliver planned improvements to council-owned homes across the borough.
The contract will include full and partial kitchen, bathroom and toilet replacements as part of the Council’s programme of improvements to its housing stock. It will also involve works such as internal and external structural alterations alongside refurbishments to empty properties.
The new contract came into place this month following a rigorous tendering process.
Cllr James Poland, the Council’s lead member for public housing, said: “I welcome this new contract and continued investment into our properties. These improvements to amenities such as bathrooms and kitchens will provide a better standard of living for our tenants.
“I’m looking forward to seeing J Tomlinson delivering the works to a high standard as well as demonstrating care for our tenants.”
The Council manages around 5,500 residential homes across the borough.
The two-year contract has potential to be extended for an additional two-years and has an estimated value of around £9 million.
Chief Executive Officer at J Tomlinson, Mark Davis, added: “We are over the moon to continue what has been an excellent working relationship with Charnwood BC over the last few years and from a personal perspective for a lot longer.
“Having an impact on the borough and individual communities is what drives our enthusiasm, and we look forward to doing this under a much wider remit with our colleagues at CBC over the next couple of years.”
J Tomlinson were established in the 1950s by the Tomlinson family in Nottinghamshire. The business has expanded over the years, and they now work throughout the Midlands and the North of England.
Tiles UK demolition paves the way for new £5m business and retail space in Stapleford
A brand new £5m Enterprise Hub is on the horizon for Stapleford following the demolition of the old Tiles UK building on Derby Road.
The Hub will be an exciting destination for independent bistro style food outlets with space to host vibrant markets, events, creative and functional activities on the ground floor, flexible office space for start-ups and existing business on the first floor, and a community roof garden terrace on the second floor.
It will be built on the current Victoria Street car park which will move to the cleared Tiles UK site. Victoria Street car park will not be closed until the new car park has been completed.
The Enterprise Hub is one of six projects being funded through Stapleford’s £21m Towns Fund, a Government scheme which aims to regenerate and revitalise towns across the UK.
Paul Sweeney, vice chair of the Stapleford Towns Fund Board, said: “Local people told us it was important to them to bring the high street back to life. We have too many vacant and derelict buildings which has a negative impact on people’s perceptions of our town, as well as local pride.
“The Enterprise Hub project was designed to transform the town centre, to attract more people to come to work and shop, and enjoy their spare time eating, drinking and socialising too. We know this will breathe life back into our great little town and make it the place we know it can be.”
Milan Radulovic MBE, leader of Broxtowe Borough Council, said: “This exciting new £5m Enterprise Hub will give people a vibrant working and living offer that will appeal to different people at different times. We want Stapleford to stand as a model for what a small town can achieve. We’ve seen the success of Beeston and know Stapleford has got what it takes too.”
Construction of the Enterprise Hub will begin once the new car park has been opened on Derby Road. The Hub will be open for business in 2024/25.
Midlands businesses raise £110m in venture capital investment amidst global economic challenges
Growing businesses in the Midlands secured £110 million in venture capital investment in the third quarter of the year, according to KPMG UK’s latest Venture Pulse report.
A total of 31 innovative companies, 17 in the West Midlands and 14 in the East Midlands, received investment in the third quarter of the year, highlighting that the UK scaleup ecosystem continues to appeal to investors but they are increasingly cautious about how much they are investing.
Joining the Midlands Engine Investment Fund (MEIF) as a leading investor in the region, FSE Group also supported SMEs in the Midlands with growth funding.
Among the companies securing investments were Onto, the all-inclusive electric car subscription, and Worn Again Technologies, the recycling firm working to rehaul the textile industry. This signals the growing investor interest in companies with genuine environmentally friendly credentials.
Khush Purewal, partner and head of deals at KPMG in the Midlands, said: “Amid a growing energy crisis, economic turbulence, continued pandemic impacts and increased pressures on businesses, funds continue to flow into businesses across all sectors in the Midlands, particularly those with strong ESG roots.
“Whilst some VCs will be focussed on existing portfolios, many have a commitment to investors to deploy capital so there is still dry powder and opportunities for good businesses with solid growth plans.
“Competition for good businesses in strong sectors will be fierce and could lead to some deal heat as we head into the final quarter of the year. However, as the economic conditions continue to deteriorate, it is likely that VC investment will remain subdued heading into Q4 2022 and beyond.”
Sainsbury, Tesco and M&S Xmas supplies hit as Lincolnshire food factory strikes
More than 700 workers at Bakkavor’s food manufacturing factory in Spalding, Lincolnshire, will strike from late November until the New Year over “poverty pay.”
Unite, the union, has said that many of the workers earn just 1p over the national minimum wage with some being forced to use food banks.
The production line operatives, who make own brand soups, sauces and deli produce for Tesco, Sainsbury’s, Morrisons and M&S, have rejected a 6.5 per cent pay offer. Unite says this is a substantial pay cut when the real rate of inflation, RPI, stands at 14.2 per cent.
Unite general secretary Sharon Graham said: “The situation these workers face is exactly what is wrong with Britain’s economy today: A company earning millions and millions in profits expecting already low paid workers to take a pay cut while prices soar.
“Unite will not tolerate attacks on our members’ jobs, pay or conditions and our Bakkavor members have the union’s complete backing as they strike for a better deal.”
The strikes, which begin on 25 November and will last until 2 January, will impact own brand food products for Tesco, Sainsbury’s, Morrisons and M&S. More strikes will be scheduled if the dispute is not resolved.
Strikes were due to take place in early November but were postponed to allow for an amended pay offer to be voted on. The workforce rejected the offer and negotiations between Unite and Bakkavor have since collapsed.
Unite regional officer Ravinder Assi said: “Tesco, Sainsbury’s, Morrisons and M&S all have a case to answer if they do not pressure Bakkavor to use some of its massive profits to give these workers a proper pay rise.
“Supermarket customers will be appalled to know that the own-brand goods they are buying are made by supply chain workers who are being treated so disgracefully. Bakkavor can well afford to put forward an offer our members can accept and needs to do so.”
The news comes after Bakkavor announced proposals to close Bakkavor Salads in Sutton Bridge, Lincolnshire and Bakkavor Desserts in Leicester.
Bakkavor said in a statement: “Bakkavor can confirm that following a ballot of its members the Unite union has rejected the proposed 6.5% pay increase and will move to take strike action at Bakkavor’s Spalding site. Around half of Bakkavor’s colleagues at Spalding are members of the union.
“We have detailed contingency plans in place to ensure that we continue to serve our customers and that any disruption is kept to a minimum.
“Across its UK sites, Bakkavor has been awarding pay increases for colleagues – a move to support its people despite the challenging economic context for the sector. Bakkavor believes its proposed 6.5% pay award for colleagues in Spalding is positive and sustainable and is part of a broader package of employee benefits.
“Bakkavor’s proposed pay offer ensures we remain competitive in the local market at a time when current trading conditions are causing significant levels of inflation across its cost base. As with businesses all over the UK, we are having to take decisive action to adapt to the challenging macro-economic backdrop, as we seek to protect our business. This has recently included our proposal to close two sites; Bakkavor Salads in Sutton Bridge, Lincolnshire and Bakkavor Desserts in Leicester as announced on 9 November.
“Bakkavor is very disappointed the Unite union is going ahead with strike action based on pay claims that are simply unsustainable in the current trading environment.”
Corporate insolvencies rise by over a third as tougher economy bites
A sharp rise in the number of corporate insolvencies is highlighting the devastating effect on local businesses of rising inflation and falling consumer confidence, with increased numbers closing down voluntarily as trading conditions become insurmountable for some.
The warning comes from the Midlands branch of insolvency and restructuring body R3 and follows latest statistics published by the Government’s Insolvency Service which show that corporate insolvencies in England and Wales increased by 38.2% in October 2022 to a total of 1,948 compared to October 2021’s total of 1,410, and by 15.7% compared to September 2022’s figure of 1,684.
October 2022’s corporate insolvency numbers are also 31.9% higher than the October 2019 figure of 1,477.
R3 Midlands chair Eddie Williams, a partner at PwC in the East Midlands, said: “The monthly rise in corporate insolvencies is driven by an increase in Compulsory Liquidations, Creditors’ Voluntary Liquidations and Administrations.
“Rising inflation, spiralling energy costs, the end of temporary insolvency legislation and a lack of post-COVID bounce-back have all hit hard on local businesses, resulting in more directors choosing to close their companies down and more creditors calling in debts to balance their own books.
“On top of this, business owners are worried about the prospect of an imminent and prolonged recession and where they’ll find the money to meet employees’ requests for increased pay as running costs increase and profits disappear.
“The jury is still out on whether the Christmas trading period, which will include an unseasonal football World Cup, will generate the traditional boom many businesses are hoping for or whether disappointing sales over the festive period will lead to companies turning to an insolvency process to resolve their financial issues.
“Now is the time for those businesses with cashflow issues and concerns over future trading to seek advice from a qualified professional, rather waiting until the problem worsens.
“Most R3 members will give an hour’s free consultation to potential clients to enable them to understand more about their circumstances and to outline the options available to help them improve their situation.”
South African brand owner considers bid for Joules
A South African group that owns brands such as Phase Eight and Hobbs is reportedly contemplating a bid for Market Harborough lifestyle brand, 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.
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.”
