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Top story
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Sun4u administration hits holidaymakers
A Birmingham-based tour operator has collapsed into administration. Sun4u, which has operated flights mainly to Spain, employs 40 people in its call centre and had approximately 50,000 customers per year. About 1,200 Britons are believed to be stranded abroad following the collapse of the company.
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Deals
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Thai deal for Leicester City
Leicester City have been bought by a consortium led by Thai businessman Aiyawatt Raksriaksorn, it has been confirmed. The Championship club have not disclosed financial details of the deal though current chairman Milan Mandaric is to retain his position at the club and is a stakeholder in the Asia Football Investments consortium.
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Grant Thornton advises on £200m deal
The Birmingham office of Grant Thornton has advised a global consultancy firm on its acquisition by AECOM. The accountancy firm provided Davis Langdon with support throughout the deal, valued at approximately £207m.
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Property
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Gardner goes for six
Derbyshire’s Gardner Aerospace has launched a sixth UK site at Hawarden Business Park near Chester. Gardner, which is headquartered in Ilkeston, has taken a 25,000 sq ft unit on a 15-year lease.
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Meteor expansion plans submitted
Commercial property company Land Securities has submitted plans for a redevelopment of the Meteor Retail Park in Derby. If the plans are approved by Derby City Council, a 9,290 sq m supermarket will be created along with five new retail units, a petrol station and a car wash.
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Nottingham drinks to two new pubs
Pub chain operator JD Wetherspoon has opened two pubs in Nottingham, creating 95 jobs. The company has spent more than £1.7m on the new properties in Sherwood and Carlton.
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Business
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Serco wins £650m waste contract
Sandwell Council has awarded a £650m contract to Serco. The company will partner the council in delivering its "waste improvement plan" and is to provide street cleaning and recycling services to the borough over a 25-year period.
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Law Society gains 162 members
For the first time in Birmingham Law Society’s 191-year history, an entire group of barristers has joined the organisation. A total of 162 barristers from Birmingham’s St Philips Chambers have joined the 2,500 strong society.
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Instem signs deal with US government
A Staffordshire-based provider of early drug development software has signed a deal worth £420,000 with a US government agency. It has purchased Instem’s products on an initial two-year contract.
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Ward Lovett and Interactive merge as Lovett boss leaves
Two communications businesses in the Midlands have merged to form a new marketing agency. Cannock–based Ward Lovett and Interactive, based in Birmingham’s Jewellery Quarter, will continue to trade by their individual brands, as the new venture is yet to be named.
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Join our business community…
Take advantage of Insider’s Membership package: Insider magazine, events, business guides, exclusive online content and Insider partner offers. Special introductory offer until 30 September 2010.
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Community
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In Focus - Claret and blues
If you think you’re having a tough week at work, spare a thought for Aston Villa chief executive Paul Faulkner, says Midlands Business Insider editor, Andy Coyne.
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Talking Point - Funding fault
Despite announcing huge profits this quarter, Britain's banks still appear unwilling to lend to firms which need it most. So how do we change this cycle? Simon Griffiths, chief executive of the Manufacturing Advisory Service - West Midlands (MAS - WM), gives his thoughts.
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Advice
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Selling to management
Our latest expert Ran Oren, partner and head of corporate & finance at Flint Bishop, has been examining exactly what is involved in selling your business to management and is on hand to help Insider readers. If you're contemplating an MBO, Ran's advice could be vital to your success.
For Insider's complete guide to selling a business, click here.
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Forthcoming Experts
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Trade sales
Simon Chapman, partner at Burgis & Bullock Corporate Finance, is here to share his wisdom in our Ask the Expert feature. He has been examining trade trade sales, so if you have any questions about your business, read on.
For Insider's full guide to selling a business click here.
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