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Top story
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Fairline not up for sale, says Carter
Fairline, the Northampton manufacturer of luxury yachts, has reacted angrily to reports that said 3i had postponed its £100m sale. Fairline says it and 3i did not actively put the company up for sale, but were approached by a single buyer last year and responded to that approach. Fairline's managing director Derek Carter has issued a retort: “During the last quarter of 2008 Fairline responded to the downturn in demand for global luxury products by scaling back its planned 2009 production by 38 per cent and announcing a reduction in its workforce from 1,400 to 1,000 employees. Such swift, positive action will have done much to secure the company going forward.” He refused to comment on the company’s relationship with 3i.
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Sytner gears up for expansion
East Midlands car group Sytner has bought three luxury dealerships including Leicester's Porsche franchise. The UK's second-largest motor dealer, based in Grove Park, Enderby, has also acquired a Porsche and a Ferrari-Maserati dealership in the West Midlands. Nick Whale Holdings of Solihull has sold the dealerships to Sytner for an undisclosed sum. 
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Lincolnshire jet deal creates jobs
Some 150 jobs are to be created, mostly at RAF Coningsby in Lincolnshire, as part of a new government contract to help support the RAF's Typhoon fighter jets after junior defence minister Quentin Davies announced the Ministry of Defence (MoD) had signed a five-year contract with BAE Systems worth £450m. The contract to supply “availability support services” to the Typhoon fleet will create up to 150 jobs and sustain a further 350. Davies said: “This contract adds to and sustains this number. The programme is important to the UK from the military and industrial perspective. BAE Systems will be taking a major role in ensuring the availability of the Typhoon fleet to meet its standing and operational commitments, and demonstrates the MoD’s commitment to partnering with British industry to get more efficient support for our frontline Typhoon fighter force.”
Welcome Finance suspends three directors
Welcome Finance has suspended three directors after it emerged bad debt charges were likely to be higher than first thought. The Nottinghamshire-based firm’s parent company Cattles said a “breakdown in internal controls” led to impairment policies being applied incorrectly. After a review carried out by Deloitte, Cattles said 2008 profits were likely to be substantially lower than its expectations on February 20 when it first warned of potential problems with bad debt provisions.
Hillarys scoops sales award
Hillarys, the Nottingham supplier of made-to-measure blinds, has won a trophy at the National Sales Awards. The company’s specialist products team, set up two-and-a-half years ago, received the award for Sales Team of the Year at a ceremony at the Hilton Hotel, London.
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Quantum backs calls for thousands more homes
A housing consortium consisting of East Midlands Housing, Derwent Living and Futures Housing Group is calling on the government to build thousands of homes as an economic stimulus. The Quantum Consortium is backing the 2020 Group, which says there is an urgent need for 100,000 new affordable homes to rent over the next two years.
Loughborough student accommodation gets go ahead
Planning permission has been granted for a development for students near Loughborough town centre. The scheme, which will house 53 students, will replace a 19th century house on the site. Developer Britannia Apartments will build accommodation from multi-let apartments to studios and one-bedroom flats. Nottingham architecture practice Marchini Curran Associates designed the scheme, which will be completed in Autumn 2011.
Davidsons begins work on Melbourne development
Foundation work has begun on a project to provide 130 homes on land east of Station Road in Melbourne. Fifty-five homes are being built on the 3.2 hectare site in the first phase. Homebuilding in Melbourne has been limited to infill development so Davidsons says its development is the first to be built on this kind of scale.
Lime Kiln attracts international investor
M&M Aerospace Hardware has leased a unit at 6 Lime Kilns Business Park in Hinckley from AR Cartwright. The 9,623 sq ft unit has been taken on a new ten-year lease at a rent of £66,000 per year. M&M Aerospace Hardware is a subsidiary of B/E Aerospace and is one of the world's leading distributors of aerospace hardware and fasteners. Lambert Smith Hampton acted for AR Cartwright.
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Hodgson a safe bet
Trevor Hodgson has been appointed operations manager at the European Safety Bureau, a Leicester-based food safety and health and safety consultancy. He will manage the hotel and leisure division of the business. His most recent appointment was with HMS where he rose up the ranks from regional consultant (London and the South East) to consultancy operations manager.
Hammond says goodbye
Peter Hammond is to quit as managing director of Leicester-based Taylor Bloxham and C & R Printing Services. The Print People Group, which owns both companies, has appointed Roger Lindop as group chief executive.
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