Author: Scott Dylan

The Liverpool City Region is progressing with its plans to construct the world’s largest tidal power project on the River Mersey. A public consultation will be held, and the project has entered the formal planning stages.The proposed tidal barrage, stretching from Liverpool to Wirral, aims to harness renewable energy from the river. This project is anticipated to generate enough power for hundreds of thousands of homes and create numerous jobs in the region.The Liverpool City Region is moving forward with its ambitious plans to develop the world’s largest tidal power project on the River Mersey. Mayor Steve Rotheram has announced…

FW Capital, a specialist in SME finance, has achieved a significant £5 million funding milestone in the North. This success underscores the growing demand for financial support among businesses.The consultancy Prime Transport Planning, based in Liverpool, is the latest beneficiary of this funding boost. The firm plans to utilise the investment to expand its technology and senior team, reflecting its robust market position.Milestone Achievement for FW CapitalFW Capital’s latest investment marks a considerable achievement, celebrating over £5 million invested in Northern businesses through the Northern Powerhouse Investment Fund II (NPIF II). Launched by the British Business Bank, NPIF II supports…

Around 200 jobs in North East England have been preserved following a rescue operation for Fablink, a company specialising in metal pressings and fuel tanks.The acquisition, orchestrated by Interpath Advisory, has saved over 500 jobs across the UK, exemplifying the firm’s resilience amid financial challenges.Background and Financial StrugglesFablink, a prominent manufacturer of metal pressings and fuel tanks, primarily serving the automotive sector, faced severe financial difficulties due to funding delays and bad debts. The company had been addressing these issues before falling into administration.Efforts by Fablink’s directors to salvage the business included exploring various rescue measures such as sales, investments,…

The OECD has raised an alarm over the state of the UK’s public finances, urging Chancellor Rachel Reeves to implement significant fiscal reforms.The recommendations come at a critical time as the government prepares to tackle rising debt, ageing demographics, and economic challenges.Mounting Financial PressuresThe OECD has identified healthcare, pensions, and climate change as key areas placing pressure on the UK’s public finances. These challenges are compounded by high debt levels, rising interest payments, and sluggish economic growth.Recent warnings from various institutions, including the Office for Budget Responsibility, underline the unsustainable trajectory of the UK’s debt. The body has projected that…

The collaboration between CDS Superstores and THG Fulfil aims to boost fulfilment services for The Range and Wilko.This strategic partnership will facilitate the use of advanced warehouse automation, enhancing operational efficiency.The move comes as part of a broader omnichannel expansion for the home and leisure retail sector.The deal is underscored by the anticipated relaunch of a wide array of Wilko-branded items.THG Ingenuity is concurrently exploring a demerger process to potentially enhance shareholder value.CDS Superstores, the parent company of The Range and Wilko, has entered into a partnership with THG Fulfil. This alliance is structured to enhance the fulfilment capabilities for…

Pret A Manger reported a significant increase in sales, reaching a record £1.1 billion in 2023.Sales surged by 22% owing to substantial international expansion across 18 markets.The first half of 2024 saw sales rise by 10% to £569 million, with same-store sales increasing by 3%.Franchising now constitutes a third of Pret’s sales, with New York being its largest market outside the UK.Plans are underway to triple its presence on the US East Coast with over 10 new shops by 2026.Pret A Manger has achieved record sales figures of £1.1 billion for the year 2023, marking a 22% increase largely driven…

Asda co-owner Mohsin Issa has announced his decision to step back from daily operations at the supermarket chain. This move enables Issa to concentrate on his role as CEO of EG Group, which operates globally in the petrol station and convenience store sector.In Issa’s absence, Asda Chairman Lord Rose will assume his responsibilities temporarily, working closely with Rob Hattrell from TDR Capital, Asda’s majority stakeholder.This move allows Issa to focus on his position as CEO of EG Group, which operates petrol stations and convenience stores across Europe, the US, and Australia. In his absence, Lord Rose, formerly CEO of Marks…

Suntory Beverage & Food GB&I has published its pre-tax profit figures for 2023, revealing substantial financial performance despite challenging economic conditions.The company’s recent filings with Companies House indicate a seventh consecutive year of profit increase, highlighting the strong post-pandemic recovery.Suntory Beverage & Food GB&I achieved a pre-tax profit of £109.1 million for 2023, up from £100.7 million in 2022, marking a significant financial milestone. This upward trend in profit is indicative of the company’s resilient strategy amidst economic uncertainties.However, revenue in Asia remained unchanged at £1.1 million, highlighting a regional contrast in performance. Despite this, the overall turnover growth reflects…

Creo Medical has entered a pivotal agreement to divest a majority stake in its European operations, marking a significant strategic move.The transaction with Micro-Tech is anticipated to bolster both organisations’ prospects in the dynamic field of medical technology.Strategic Partnership with Micro-Tech DynamicsCreo Medical, an eminent player in the life sciences sector, has strategically decided to divest a 51% stake in its European subsidiary to Micro-Tech, a Chinese frontrunner in the endoscopic medical device market. This decision is expected to significantly enhance both companies’ market positions by leveraging Creo’s innovative energy platforms and Micro-Tech’s expansive product range and distribution channels.Financial Implications…

The North East has witnessed a significant 20% reduction in insolvency rates, as revealed by recent data analysis. In August, 76 insolvency-related activities were noted, marking the lowest level in three months.The latest figures from R3, the UK’s restructuring trade body, highlight that insolvency-related activities in the North East decreased to 76 cases in August. This marks a significant drop from the 95 cases recorded the previous year. August saw the lowest activity since May, which had 60 cases. These figures suggest a potential shift in how companies manage financial distress.Ms Jordan emphasizes the importance of companies seeking guidance when…