< Previous10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS June corporate insolvencies dip to lowest level since 2022 An unexpected month-on-month dip in the number of corporate insolvencies in England and Wales is bringing respite to East Midlands businesses and signals hope that the summer months will bring a significant boost to trade. 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 published by the Insolvency Service which show that corporate insolvencies decreased by 8.4% in June to a total of 2,043, compared to May’s total of 2,230, and fell by 15.9% compared to June 2024’s figure of 2,430. R3 Midlands chair Stephen Rome, a partner at law firm Penningtons Manches Cooper in the region, said: “For the first time in many months we have seen a reduction in corporate insolvencies, now dipping to their lowest level for June since 2022.” Midlands startups quadruple venture capital investment Venture capital (VC) investment into the Midlands’ start-up and scaling businesses increased in the second quarter of 2025, bucking the national trend, according to the latest KPMG Private Enterprise Venture Pulse report. The Midlands’ start-ups raised £108.5m in the second quarter of 2025, more than four times the £26m raised in the first three months of the year. 28 investments were concluded in the region – 11 in the East Midlands and 17 in the West Midlands – compared to 12 in the previous quarter, highlighting increased appetite among VC investors looking to support the region’s burgeoning start-up community. The largest raise included a £14.9m investment into Nottingham-based scheduling platform developer Cronofy – enabling them to pursue further growth both at home and overseas in the US. Cronofy was one of six Midlands companies in the business and productivity software sector securing VC funding this quarter – reflecting the national trend – as start-ups focused on products and services that streamline business operations continue to gain popularity among funders. Profit warnings down for listed Midlands companies in first half of the year Listed companies in the Midlands issued 14 profit warnings in the first half of 2025, one fewer than the same period last year, according to the latest EY-Parthenon Profit Warnings Report. Companies in the region issued seven warnings in the second quarter, the same as Q1 and one more than Q2 2024, when six warnings were issued. Nationally, the number of profit warnings issued by UK-listed companies in Q2 2025 rose by 20% to 59 compared to the 49 issued during the same period last year. Over the last 12 months, nearly a fifth (19%) of UK-listed businesses have issued at least one profit warning. The FTSE sectors with the highest number of profit warnings in the Midlands during Q2 2025 were Industrial Support Services – which includes business service providers, industrial suppliers, and recruitment companies – and Construction and Materials, with two warnings each. Construction and Materials also had the highest number of warnings in the Midlands for the first half of the year, with three in total. The leading factor behind profit warnings during the second quarter was policy change and geopolitical uncertainty, cited in nearly half (46%) of warnings. R3 Midlands chair Stephen Rome. Copyright: Stephen Rome © stock.adobe.com/ bneninwww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 11 FINANCE NEWS © stock.adobe.com/ paperboat Research reveals £3.5bn lending gap for East Midlands businesses New research from Allica Bank has revealed a gap of £3.58bn in lending to East Midlands SMEs has emerged over the last thirty years. The research highlights how the Big Six high-street banks have pulled back from SME lending in recent decades leading to a lending gap for the UK as a whole of £65bn. It has left the UK with the lowest business investment rate in the G7. For the East Midlands’ 181,250 SME businesses, that £3.58bn is vital cash that could otherwise be directed toward investment, growth and productivity at a time when the UK is crying out for investment. The £65bn SME credit gap was worked out by comparing the current level of SME lending to historic lending trends and comparable global economies. The report calculated that, as a result of banks pulling back from SME lending, a gap of approximately £65bn in the stock of SME credit has emerged. The research also highlights how, in response to a tougher lending environment, the percentage of SMEs applying for external finance has fallen markedly from 65% in the late 1980s to just 25% between 2022- 24. How Inheritance Tax Will Affect Your Pension The Government has now published draft legislation to bring unused pensions into the scope of Inheritance Tax (IHT) from April 2027 — despite sustained opposition from the majority of pensions professionals. This is a seismic change and could lead to a doubling of those estates caught by IHT. While the draft rules don’t yet provide the full picture, key points include: Responsibility for reporting and paying IHT on unused pension funds and death benefits will fall to the deceased’s Personal Representatives (PRs). Exclusions apply: death-in-service benefits and dependants’ scheme pensions from defined benefit or collective money purchase arrangements are not affected. PRs will need to contact all of the deceased’s pension schemes , and Scheme Administrators must respond within four weeks . These and other timescales will be particularly challenging where assets like commercial property are involved, due to complex valuations. HMRC plans to offer tools and calculators to assist PRs, but details are not yet available. Until final legislation is published, uncertainty remains — and the industry continues to lobby the Government to reconsider. What can you do now? It’s more important than ever to ensure pension scheme ‘Expressions of Wishes’ are up to date, given the time-critical reporting requirements after death. These are separate from any Will that may be in existence. WBR’s position: We strongly oppose the inclusion of pensions in IHT and will continue to advocate against the proposals. There are very real practical issues that the Government appear deaf to. We’ll keep all our contacts informed as the rules develop. For further information call 0333 320 9230 or visit wbrgroup.co.uk Caitlin Southall – Director of SSAS at WBR Group © stock.adobe.com/ tippapattNew University of Nottingham partnership to enhance food and drink industry training and development Training and development for the food and drink sector will be enhanced with a new partnership that will bring together industry and academic expertise. The University of Nottingham is partnering with Briggs of Burton to launch a new training academy that will provide theoretical and practical training to its staff and valuable hands-on experience for students. The University’s Faculty of Engineering will also be collaborating with Briggs of Burton, exploring world-leading research and future innovation together. The International Centre for Brewing Science is a centre of excellence for brewing education and research at the University of Nottingham and is where Briggs of Burton designed and built a ‘Research Pilot Brewery’ for the University that has been operating successfully for 14 years. The centre will now be expanded to offer theoretical and practical training to equip Briggs’ teams with the expert knowledge needed to deliver projects for customers, and generate a new talent pipeline of mechanical, electrical/control, chemical/process, and industrial automation/software engineers. 12 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS French group acquires majority stake in Northamptonshire spirit company Warner’s Distillery, a farm-grown spirit company based in Northamptonshire, has secured a significant partnership with La Martiniquaise-Bardinet, one of France’s largest spirits groups. The partnership sees La Martiniquaise-Bardinet acquiring a majority shareholding in Warner’s Distillery. With the backing of the spirits house, Warner’s will maximise the potential of their portfolio in UK and global trade. Warner’s, known for flavoured gin and farm-grown botanicals, will continue to operate under the leadership of founders Tom and Tina Warner, ensuring the brand’s core values and operations remain intact. For La Martiniquaise-Bardinet, the partnership brings a dynamic new brand into their global portfolio, which includes spirits brands such as Glen Moray Speyside Single Malt Scotch Whisky, Bardinet Brandy, Cutty Sark Blended Scotch Whisky and St James Rum. Warner’s were advised through the process by Brodersen & Co, Browne Jacobson LLP & Mike Hughes Advisory. La Martiniquaise-Bardinet were advised by Cortus Financial Advisors & Paris-Smith Solicitors. Manufacturing struggles to regain momentum The UK manufacturing sector showed tentative signs of stabilisation in July, but the underlying picture remains fragile as demand softens and cost pressures mount. Manufacturing output was broadly flat in the three months to July, according to the latest CBI Industrial Trends Survey. Although declines were recorded across a wide range of sub- sectors, these were largely offset by stronger activity in the motor vehicles & transport equipment and food, drink & tobacco sectors. However, manufacturers expect output to fall slightly over the coming quarter to October. Demand conditions continued to weaken. Total new orders fell during the past quarter, primarily due to a drop in domestic orders, while export orders remained unchanged. Looking ahead, firms anticipate declines in both domestic and overseas orders through to October. Exporters, in particular, are grappling with growing headwinds. More than half of manufacturers—56%—cited pricing as a key constraint on exports, up significantly from 38% in April. This likely reflects a combination of higher US tariffs and the appreciation of Sterling against the US dollar. In addition, one in five firms reported that quotas and licensing issues are limiting export potential, a level rarely seen since the 1980s. Tom and Tina Warner L-R: George Crombie, chief operating officer, Briggs of Burton; David Cook, professor in Brewing Science, University of Nottingham; Robert Buxton, chief executive officer, Briggs of Burton; professor Sam Kingman, provost and deputy vice chancellor at the University of Nottingham; Jo Simpson, chief revenue officer, University of Nottinghamwww.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS East Midlands engineering firm enters administration after contract issues Franklyn Yates Engineering, a Derbyshire-based provider of mechanical and electrical services, has entered administration due to severe cashflow problems. Specialising in industries such as power, water, and energy from waste, the firm’s struggles stemmed from difficulties with a key contract, leading to financial instability. The company’s joint administrators, Tyrone Courtman and Gareth Harris from RSM UK Restructuring Advisory, were appointed on July 15. They are now focused on liquidating the company’s assets to maximise returns. Following the administration, 25 employees were made redundant, and the company’s future remains uncertain. In 2023, Franklyn Yates Engineering reported assets valued at £5 million and net assets just under £2 million. The Greenbank Group, which owns Franklyn Yates, has confirmed that other businesses within the group remain unaffected and continue to operate normally. Mansfield-based IDSL sees strong first year following private equity investment Integrated Doorset Solutions (IDSL) Group has marked a year of significant growth following the first year of its partnership with LDC, part of Lloyds Banking Group. Founded in 2016, Mansfield-based IDSL Group comprises three businesses. IDSL is a leading manufacturer of specialist performance doorsets, including fire and security doors, for use in hospitals, schools, student accommodation, commercial and high-end residential properties. Additionally, Fire Door Inspection Solutions (FDIS) and Hartland Fire both specialise in inspection, maintenance and replacement activities across the UK. In the 12 months since the investment, the business has seen a 21% increase in turnover to £42.9m. This performance reflects a continued focus on operational improvement, investment in delivery and infrastructure, and financial discipline. IDSL Group began the current year with a strong order book and has continued to build momentum. Headcount has also risen by 47% to 420 people, supporting capacity growth and rising customer demand. Since LDC’s investment in May 2024, IDSL Group has strengthened its leadership team with the appointment of Adrian Ringrose as chair and Brian Talbot as a non-executive director. Andrew Gratton is also set to join in August as chief operating officer. © stock.adobe.com/ MDBPIXS Jobs secured as Chesterfield’s CBE+ sold Chesterfield-based CBE+, specialists in nickel plating, CNC machining, surface treatment and assembly services for the aerospace, defence, energy and automotive industries, has been sold after falling into administration. Over the past few years, market conditions have been challenging which has impacted the company’s profitability. As a result of these mounting pressures, the directors sought to undertake an exploration of their refinance, investment and sale options. However, when it became clear that a solvent solution could not be found, they took the decision to seek the appointment of administrators. Immediately following the appointment of Tim Bateson and Howard Smith from Interpath as joint administrators on 21 July 2025, the business and assets of the firm were sold to two companies that are funded by Baaj Capital LLP. All 87 members of staff have transferred to the purchaser as part of the transaction. The joint administrators were assisted by legal advisors at HCR Law led by Stuart Taylor. © stock.adobe.com/ Freedomz © stock.adobe.com/ Vadym David Bains (LDC) and Ash Malhan (IDSL) East Midlands Business Link 13 Pick Everard to design future prisons in the UK under new MoJ contract Pick Everard has been selected as the sole supplier to lead the design of future prison facilities across the UK, supporting the Ministry of Justice’s (MoJ) plans for capacity expansion. This includes work across category A to D prisons and women’s facilities. The firm will handle both new builds and improvements to existing assets, continuing its long-standing collaboration with the MoJ that spans over 20 years. The MoJ’s new framework programme, procured through the Crown Commercial Services (CCS) framework, will see Pick Everard provide a wide range of services, including architecture, structural and civil engineering, building services, and environmental expertise. The firm’s track record in delivering prison programmes, such as the New Prisons Programme and projects like HMP Five Wells and HMP Millsike, will be key in meeting the growing demand for secure, rehabilitative facilities. Pick Everard has also been involved in several other MoJ initiatives, including the design work at HMP Rye Hill and advisory services on fire safety and decarbonisation projects across Central England and Wales. The new appointment reflects the firm’s ongoing commitment to enhancing the UK’s prison estate with future-focused, high-quality designs. Midlands dominates UK logistics take-up Demand from third-party logistics (3PL) providers continued to underpin the UK industrial market in the first half of 2025, with 3PLs accounting for 59% of all big-box take-up, totalling 6 million sq ft of grade-A space, and predominantly choosing the Midlands region. New research from real estate consultancy Avison Young highlights the resilience of the logistics sector, with 3PL take-up levels just 2% below the five-year average, despite wider economic uncertainty. The Midlands remains the most active region, capturing 61% of 3PL leasing activity in H1 2025, reaffirming its position as the UK’s logistics heartland. Since 2021, nearly three- quarters (74%) of all 3PL space has been taken in the region, underlining its long-term appeal for large-scale occupiers. Across the wider market, prime headline rents continue to rise, particularly in the Northwest, Southwest and Scotland, where average increases reached 4% over the period. Looking at longer-term trends, 3PLs have accounted for 43% of all UK big-box take-up over the past five years, totalling 31 million sq ft. The top ten 3PL providers alone account for 12.2 million sq ft, or 39% of that total, reflecting the scale and continued importance of the sector’s largest operators. Among the most active is DHL, while Amazon’s footprint in the period stems from a single, large-scale transaction. Clowes sells quartet of units at Beauchamp Business Park to Edge Retail Clowes Developments has sold four industrial units at Beauchamp Business Park to Edge Retail, a creative design and manufacturing agency that specialises in building branded retail environments. The purchase of units G2a–d is a significant step in Edge Retail’s strategic expansion, reinforcing the company’s long-term commitment to growth and continued investment in the region. The terrace totals approximately 16,200 sq ft. Edge Retail, currently headquartered on Grace Road in Leicester, will retain its existing premises and expand into their new premises in Kibworth. A spokesperson on behalf of Edge Retail said: “Edge Retail had been looking to expand its property portfolio for some time, before finding the units at Kibworth. We were particularly impressed with the location, build quality and attention to detail that Clowes has incorporated. “Clowes’ reputation was excellent, so without hesitation Edge Retail secured four units to allow us to grow our existing business, now and in the years ahead. We would like to extend our thanks to the Clowes team for their professionalism and patience throughout the purchase process.” 14 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk PROPERTY NEWS Steve Shields & Abi Easter - Edge Retail, Jenny McCrea – Clowes Developments, Graham Quirke and Craig Wick - Edge Retail, Kevin Webster – Clowes Developments Image credit: Pick EverardHenry Brothers Construction to build new Community Diagnostic Centre in Nottingham Contractor Henry Brothers Construction has been appointed to build the new Broad Marsh Community Diagnostic Centre (CDC) in Nottingham. This key stage in the programme follows the formal signing of contracts between Homes England – the new landlords of the site – and Nottingham University Hospitals NHS Trust (NUH) – who will run and staff the centre. The new NHS facility is one of a number of CDCs being funded by the Department for Health and Social Care, which aim to improve population health outcomes and efficiency, as well as reduce waiting times and health inequalities. Ian Taylor, MD of Henry Brothers Construction, said: “Henry Brothers Construction is proud to have been appointed as part of the team delivering the new Community Diagnostic Centre which is being created in the heart of the Broad Marsh regeneration development in the centre of Nottingham.” Midlands logistics firm shifts gears with new site in Derbyshire Midlands logistics firm, D&D Transport, has opened the doors to a new facility in Alfreton, marking a major investment in its growth. Located in an industrial estate in the heart of Derbyshire, the new site spans just under 70,000 sq ft, providing significant space for storage, operations and future development. The move to Birchwood Way, Cotes Park Industrial Estate, supports D&D Transport’s long-term strategy to strengthen its logistics offering and better serve its growing customer base. Just minutes from Junction 28 of the M1 and the A38, the new location also puts the firm – which is a member of the Palletways UK network – in direct access of key transport corridors. Dave Palmer, owner of D&D Transport, said: “This move represents a major step forward for the business. The new site gives us the space to scale and diversify our services and positions us more strategically to serve customers in the region.” Kennedy Wilson JV acquires 275 homes in Derby and beyond in £100m deal Kennedy Wilson, in partnership with the Canada Pension Plan Investment Board, has completed a £100m acquisition of nearly 300 homes across three UK sites. This purchase adds approximately 275 units to their growing single-family rental portfolio. Located in Milton Keynes, Derby, and Cheltenham, the homes were acquired from major housebuilders Dandara and Miller Homes, the latter being an ongoing partner. The deal expands the JV’s portfolio to 1,180 units in just nine months, marking significant progress since its launch in October 2024. The acquisition brings the JV’s total committed capital to £390m, with properties secured across 13 sites in strategic locations such as Bedford, Cambridge, and Ipswich. High demand for newly completed homes in Norwich and Bedford further solidifies the platform’s strong market position. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15 PROPERTY NEWS © stock.adobe.com/ Aleksei © stock.adobe.com/ Andy Dean16 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY DEALS From industrial premises to retail destinations and marinas, a diverse range of deals have recently been completed across the East Midlands. Diversewww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 17 COMMERCIAL PROPERTY I n Derbyshire, the well-known car breaking site of Albert Looms at Spondon has been acquired by Ivygrove Developments. The specialists in small and medium size industrial premises is rapidly progressing towards conclusion on their latest project at Merlin Park on Osmaston Road, with the Looms site set to ensure a continuous supply of Ivygrove units into the Derby market. A new development, known as ‘Looms Business Park’, will provide up to 20 industrial premises ranging from 2,000 to 20,000 sq ft, which will be available in 2026. Nick Blount of Ivygrove said: “We are keen to continue supplying workshop and storage units into the local market and our successes at Merlin Park demonstrate that demand continues unabated for our product. Employment land for small and medium-sized units is difficult to find, and it seems housing is being prioritised by developers whereby sites are more readily available. We are therefore absolutely delighted to have acquired such a prime site as the former Looms yard, and we cannot wait to start building.” The Looms site was a popular location from the early seventies for hundreds of car owners who required parts for their ageing cars which were not always available at local franchises. Looking back further, John Blount, chairman of Ivygrove, said: “Looms were responsible An aerial view of the Alfreton industrial site acquired by Rotherhill 18 Á18 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY for breaking up steam engines and timber goods carriages in the early sixties after Dr Beeching took ‘the axe’ to the railways, closing hundreds of stations in rural England and Wales. The change from Steam to Diesel also played a major part in the demise of the famous Princess and Jubilee class Steam Engines, together with the workhorse engines many of them built in Derby at the ‘Loco Works’ which is now the home of hundreds of businesses on Pride Park.” Innes England represented the sellers and Salloway Property Consultants represented Ivygrove in the acquisition of the Looms site. It follows a further industrial deal for Salloway, with Hay Lane Industrial Estate, just off the A50 in Foston, changing hands. Described as a highly versatile and strategically located asset, the site spans several acres and offers extensive yard space and parking. William Speed of Salloways said: “This was a rare opportunity to acquire a substantial and flexible industrial estate with real potential, both in terms of income and development. We received a great deal of interest from a diverse pool of prospective purchasers. The successful sale reinforces the enduring appeal of well-located industrial assets in the East Midlands.” The deals come after property developer and asset manager Rotherhill, in partnership with a long-standing private office joint venture partner, acquired a 78,770 sq ft industrial investment split across two neighbouring buildings on a 5.96-acre site in Alfreton. The property is fully let to TRT (Turbine Repair Technology) Limited, a joint venture between Rolls- Royce Plc and Chromalloy UK Ltd, on two coterminous leases running until 2033. With site coverage of 25%, there are strong underlying fundamentals and future potential. Ed Jeffrey, director of Rotherhill, said: “We are very pleased to have completed this purchase. We’ve worked hard with the seller and tenant to restructure the leases, unlocking value for all parties. The property is well located, let at a discount to current market levels and benefits from guaranteed rental growth, making it an excellent addition to our asset management portfolio. Our thanks go to Andrew Mellor of Penningtons Manches Cooper who undertook all legal work, Andy Price of AP Investment who provided investment agency advice, and Ned Jones and Harry Abell at Cushman & Wakefield who acted for the seller.” Meanwhile, in Chesterfield, Sheet Anchor Evolve, part of M Core – the privately held property investment and management collective – has acquired open-air retail destination Vicar Lane. The 202,000 sq ft scheme comprises 34 units and a 400-space car park, with a mix of fashion, food, and essential services retailers. National and regional occupiers include JD Sports, H&M, Superdrug, Iceland, River Island, and The Works. The scheme also features civic space at St James’ Square and is adjacent to several major regeneration projects such as Chesterfield Waterside. The acquisition reinforces M Core’s commitment to investing in www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19 COMMERCIAL PROPERTY convenience-led retail and delivering long-term value through intensive asset and property management. Danny O’Keefe, founding partner at Sheet Anchor Evolve, said: “Vicar Lane is a well-positioned retail destination in a town with ambition and momentum. As a long-term investor, our strength lies in our ability to invest in places, work closely with tenants and local stakeholders, and use our in-house expertise to unlock value. This is exactly the type of asset we can evolve through intensive management – enhancing its relevance to the community and supporting its role in Chesterfield’s wider regeneration.” The deal follows AEW UK REIT’s purchase of Freemans Leisure Park, an 8.4-acre freehold site in the centre of Leicester, for £11.15m. The property totals 108,771 sq ft across five units along with service yards and 582 car parking spaces and is fully let to tenants including Odeon Cinemas, Mecca Bingo, Spirit Pub Company and Nando’s. Finally, in Nottinghamshire, Farndon Marina, located on the River Trent near Newark, has been sold to Tingdene Group. Farndon Marina has been owned by the same family since 1966, when the 25-acre freehold site was originally purchased and developed by local businessman and boating enthusiast Mark Ainsworth. The marina comprises over 300 private berths and moorings, with berthing fees and chandlery sales forming the backbone of the business, together with boat sales brokerage and marine services, which incorporates repair, maintenance and boat lifting. Recent investments had been made in technology to improve day-to-day operations, site security and enhance the customer experience, as well as the development of amenity buildings including workshops, visitor facilities and office space, with new pontoon walkways installed during the marketing process. Ian Collier, managing director of Tingdene Group, said: “We are excited to welcome Farndon to the Tingdene family and will be looking at a number of investment opportunities over the coming months which, alongside the marina, could include holiday park, motor home and touring caravan facilities and perhaps floating lodges which we’ve successfully introduced at some of our other marinas.” Farndon MarinaNext >