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Top story
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TJ Morris on course for £1bn turnover
Discount retailer TJ Morris, based in Liverpool, is forging ahead with its bid to become a £1bn-turnover company by 2013 after reporting growth of 22 per cent this year. Operations director Joe Morris told Insider that turnover for the year to 30 June 2010 had reached £590m - up from £482m a year earlier. Profits are expected to be more than £50m.
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Deals
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Broughton hopes for quick sale
Liverpool FC chairman Martin Broughton has confirmed that the board is looking to sell the club before the end of the month. It was yesterday revealed that Chinese businessman Kenny Huang, the head of Hong Kong-based investment company QSL Sports, has made an offer for the club although he is believed to be one of “several” parties hoping to take over from Tom Hicks and George Gillett.
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Santander set to buy RBS branches
Santander is set to end months of speculation by confirming it will buy 318 Royal Bank of Scotland branches acquired under the Williams & Glyn’s brand. The Spanish bank fought off competition from rivals, including National Australia Bank, and reports suggest it is set to pay as much as £2bn for the branches.
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Business
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Haywood confident Blackpool EDC can continue
The Blackpool, Fylde and Wyre Economic Development Company (BFW EDC) can survive despite budget cuts. That's the view of Graham Haywood, the interim chief executive of the four-month-old organisation. Despite only launching in April, the group has been hit by the Northwest Regional Development Agency's £52m budget reduction.
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AGMA rubberstamps Metrolink projects
The Association of Greater Manchester Authorities (AGMA) leaders have confirmed funding of £500m from the Greater Manchester Transport Fund to deliver Metrolink lines to Oldham and Rochdale by spring 2014 and to Manchester Airport via Wythenshawe.
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Gas fire manufacturer goes up in smoke
Robinson Willey, one of the UK's best-known names in gas fires and wall heaters, has gone into administration with the loss of around 60 jobs. The Liverpool manufacturer, which moved to to a new £3.5m facility at Trinity Park in Bootle little over three years ago, collapsed last week following a diminishing order book and cash constraints.
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Co-op defends Bristol redundancies
Manchester retail giant The Co-operative Group has maintained it has been “transparent from the outset” over potential job losses at the Somerfield headquarters in Bristol. The move follows reports that 522 Somerfield head office staff have left the business since it bought the chain for £1.56bn last year.
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Property
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Planning committee set to decide on Wirral Waters
Wirral Council’s planning committee will today decide whether to give the go-ahead for the largest planning application in the UK – Peel Holdings’ £4.5bn Wirral Waters project.
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Cussons moves into new HQ
Preferred Office Environments (POE) has completed the £2.7m fit-out of PZ Cussons’ new 40,000 sq ft headquarters building at Manchester Business Park. The project was completed in 16 weeks and involved the fit-out of the entire three-storey office, designed by CB Richard Ellis’ (CBRE) architecture & design group.
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St Modwen launches Persimmon joint venture
Regeneration specialist St Modwen has joined forces with housebuilder Persimmon to develop 2,000 homes on seven different sites across England and Wales. The businesses say further schemes will be added to the “groundbreaking” joint venture as planning permission is granted.
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Other News
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Contracts flow for Suttons
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Overwater opens up
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AMS strengthens management team
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Entrepreneurs are seizing opportunities, say NatWest and RBS
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Juice teams up with SEO specialist
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Waldie to lead HBJ Gateley Wareing’s Manchester office
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