| - |
|
Top story
|
Rolls-Royce secures huge Chinese deals
Derby’s Rolls-Royce has won orders worth £255m from a Chinese customer. BOC Aviation, the Asia-based aircraft leasing company, is to buy Trent 700 engines, worth £112m, for five Airbus A330 freighters. Rolls-Royce also has a £143m share of an order for V2500 engines from Sichuan Airlines. Nick Devall, executive vice president – airlines at Rolls-Royce, said: “This order demonstrates BOC Aviation’s confidence in our products and the continuing strength of the Trent 700 in the wider marketplace.”
|
100 jobs saved after MBO at Burchell Edwards
A Midlands estate agency chain, which has offices in Nottinghamshire and Derbyshire, has been bought back by its management after going into administration. The business and assets of Cornerstone The Midlands, trading as Burchell Edwards Estate Agents, has been sold by joint administrator Ian Gould of accountancy firm PKF. Gould said the acquisition, by new company Burchell Edwards Midlands (BEM), meant that more than 100 jobs had been safeguarded. BEM will take over about half the Burchell Edwards offices. BEM has taken on the headquarters at Burton-on-Trent as well as branches in Alfreton, Belper, Derby, Eastwood, Heanor, Ilkeston, Mansfield and Ripley. 
Lloyds get Intimas with £5m ABL package
Long Eaton-based Intimas Group, a designer and supplier of lingerie that suffered a £3.8m loss in 2007, has secured a £5m asset-based lending package from Lloyds TSB Commercial Finance. AIM-listed Intimas employs more than 200 people and produces underwear, swimwear and nightwear for brands including Ted Baker Intimates and By Caprice.
Greenbank weighs in with H&H deal
Woodville-based Greenbank Materials Handling has bought the industrial weighing division of H&H Services, based in Edwinstowe. All staff will be transferred to Greenbank.
VSG secures Rampart deal
Northampton’s VSG, the security services business, has bought Oxfordshire’s electronic security specialist Rampart Security. “An important factor in our decision was our experience of working with the company over the two years,” said Keith Francis, group managing director of VSG. “We were not only impressed by Rampart’s expertise, but also by the company’s commitment to innovation and customer service. Rampart’s philosophy closely matches our own and we believe the acquisition will be an important step forward for all concerned.”
|
Vision Nottingham invests in new name
Vision Nottingham – the council body responsible for attracting inward investment to Nottingham – has changed its name to Invest in Nottingham. Graham Chapman, deputy leader of Nottingham City Council, said: “Invest in Nottingham makes business sense. When companies are looking to invest or relocate to the city, the key words they enter into a search engine are ‘invest’ and ‘Nottingham.’ The name now says what it does on the tin. We also didn’t want to confuse the old name with Visioning Nottingham, the new vision for Nottingham 2030, which aims to give the city the direction it needs to become a top European city.”
Insolvency rate to rise to 41 per cent
A survey conducted by R3, the insolvency trade body, paints a grim picture of dramatic rises for the Midlands in personal and corporate insolvencies over the next year and a half. R3’s Midlands branch chairman James Martin, a partner at Derby business advisory practice Cooper Parry, said: “The predicted 41 per cent increase in business insolvencies from 2007 to 2009 is catastrophic for the Midlands and, unfortunately, will mean we will start to approach the numbers we saw at the peak of the recession in 1992. For the past three or four years a number of businesses that perhaps were not performing well have been kept alive artificially by the easy availability of credit, which has now dried up.”
|
Demand dampens in East Mids property market
The balance of chartered surveyors in the East Midlands have reported that demand for commercial property has fallen at its fastest pace in a decade, according to the RICS Commercial Property Survey. In the Midlands 55 per cent more chartered surveyors reported a fall than a rise in demand for commercial property in the past three months. In the East Midlands all sectors – office, retail and industrial – remain firmly in negative territory for the fourth consecutive quarter.
Westleigh starts at LE3
Westleigh Developments has begun work on a £12m office development called LE3 on the outskirts of Leicester, by junction 21a of the M1. Earlier this year Whetstone-based Westleigh Commercial won planning permission for 60,000 sq ft of office space on the site. The scheme will be made up of office units from 1,700sq ft upwards.
New hotel at Brook Park
A listed former warehouse and stable block in Belper is to be converted into a 34-bedroom hotel and conference centre development. Work on the hotel at Radleigh’s Brook Park, which will create 30 jobs, is expected to start in January 2009, with the opening scheduled for the autumn. Radleigh, based on Pride Park in Derby, has sold the buildings to Derby businessman Sajid Hussain.
|
New director at Cooper Parry
East Midlands business adviser Cooper Parry has appointed Jonathan Elsigood as a director. He joins the firm after more than 19 years in a similar job at PricewaterhouseCoopers. Elsigood will provide financial planning advice to wealthy individuals and families as well as directors, executives and trusts.
Wilson Organisation serves up appointment
Nottingham insurance broker and financial adviser The Wilson Organisation has appointed Mark Wilson to head its work in the restaurant sector. With 20 years’ experience in insurance, Wilson returns to his Nottingham roots after working for a large independent insurance broker in Peterborough.
|
|
Contact Us
Insider Weekly
Canterbury House
85 Newhall Street
Birmingham
B3 1LH
Telephone: +44 (0)121 232 0980
Email:
editor.eastmids@newsco.com
|
|
Subscribe
To subscribe to the eBulletin,
click here
|
|
-
|
