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Top story
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Anger at Bombardier decision
Business leaders in Derby have responded angrily over the Department for Transport’s decision to award the UK’s largest rail contract to a Japanese consortium instead of Derby’s Bombardier. Derby hosts the world’s largest rail cluster employing 6,000 people. Only a few weeks ago transport minister Geoff Hoon described its workforce as “world class”, but last week announced that the £7.5bn project to make the intercity fleet would go to Hitachi, which will carry out most of the work in Japan. John Forkin from Marketing Derby said: “Can you imagine France, Germany or Japan giving £7.5bn away like this?” The decision has been described by local MP Bob Laxton as “crass”.
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Deals
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Sofa so good for Nottingham consortium
A Nottingham consortium has bought ten Sofa Workshop stores from furniture retailer New Heights. The consortium is led by Sofa Workshop's founder Andrew Cussins, who started the business in 1985 and sold it to MFI in 2002 before New Heights purchased the company in 2006. The acquisition involves stores across the south. Sofa Workshop’s remaining 20 stores and the head office have been closed. Browne Jacobson advised the consortium on the deal.
Tasty buyout for Northants food company
Classic Cuisine of Northampton has gone through a management buyout. Jeeva Sanmugam, a minority shareholder, has bought most of the company’s shares. Classic was set up by Lawrence and Caroline Hunt in 1990 and Sanmugam joined four years later. For three years she has been driving its growth as the Hunts reduced their involvement. Among its clients are Asda, Aldi, Little Chef and Mitchells & Butlers. Accountancy firm Greenhalgh & Co advised on the deal, funded by Close Invoice Finance. Legal advice was by Berryman.
New spark for CAL Installations after MBO
All 15 jobs at a Coalville electrical goods distributor have been saved after a management buyout from administration. Leicester law firm Spearing Waite acted for CAL Installations’ management on the purchase.
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Business
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Nottinghamshire takes step closer to single EDC
A single body to attract investment and development to Nottingham and Nottinghamshire is to be launched. Councils for the city, surrounding towns and the county have agreed to an economic development company (EDC) that will combine development work carried out by councils and organisations such as Nottingham Development Enterprise, Nottingham Regeneration, Emda, Greater Nottingham Partnership, Greater Nottingham Transport Partnership and Experience Nottinghamshire. A shadow board will be set up by April 2009, laying the ground and structure for the EDC proper in April 2010.
Flint Bishop closes Nottingham office
Flint Bishop is closing its Nottingham office after just three years. The law firm, based in Derby, is taking advantage of a break clause in its contract to terminate its deal on The Atrium. It is thought nine people will be affected by the closure, although Ken Dixon, managing partner, said the firm is talking about relocating staff to Derby.
BCS PR appointed to COI roster
BCS Public Relations is to join the East Midlands PR framework for the government’s Central Office of Information (COI). The Nottingham agency is now one of only three that can handle COI campaigns in the region, worth £15m a year.
Risky business for Towergate
Nottingham risk and insurance adviser Towergate Risk Solutions has been appointed by developer BSP Holdings to handle its insurance including property, contractors, retailers and personal insurance.
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Property
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Casa gets green light
Bradbury Hall Developments has been given the go-ahead for the £20m Casa hotel and office development on the outskirts of Chesterfield town centre. Chesterfield Borough Council approved the scheme, which will comprise a 100-bedroom hotel with 16,000 sq ft of office space on the top two floors.
Carillion wins Derby IT contract
Wolverhampton's Carillion IT Services has been appointed by Derby College to install a fixed and wireless Local Area Network (LAN) infrastructure as part of its £43m redevelopment of the college. Derby College has more than 20,500 students and 1,500 staff.
Savills bags Leicester job
Savills has been appointed by a fund advised by JP Morgan Asset Management to manage the 169,415 sq ft St. Georges Retail Park in Leicester. The park’s tenants include Wickes, Comet, Pets at Home, Next, Mothercare and Avis.
Nottingham PCT gets New Brook
Nottingham City Primary Care Trust has signed a five-year lease on units 43 and 44 on the ground floor of New Brook House, owned by Nottingham Regeneration. The rent is £19,800 per year.
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People
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Hazlewood finds home at LHA-ASRA
Kevin Hazlewood has been appointed group director of property services and asset management at LHA-ASRA, the housing and regeneration group that manages 11,500 homes across the East Midlands and London. He joins from Meridian Consultants where he was director of development and asset management.
Oval announces senior appointments
Leicester insurance company Oval has appointed Jonathan Howard as head of private clients and Billy Johnson as head of employee benefits.
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Events
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Russia Club launches
East Midlands businesses keen to explore trade with Russia can do so at an event co-hosted by government organisation UK Trade & Investment and insurance and financial adviser The Wilson Organisation. This year’s first Russia Midlands Business Club takes place at Loughborough University on Thursday 26 February.
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