MAG agrees £280m financing facility

Manchester Airports Group (MAG) has agreed a £280m five-year financing facility with seven banks. The new facility replaces an existing three-year package that was due to expire in July 2011. Finance director Ken Duncan told Insider the facility will help to support a series of investment projects, including the £20m resurfacing of Manchester Airport’s Runway 1 and upgrades to its Terminal 3 building.

Liverpool One refinanced in £385m deal

The Grosvenor Liverpool Fund has secured £385m refinancing for the 1.6m sq ft Liverpool One mixed-use scheme. This five-year deal replaces a funding arrangement put in place six years ago, which was designed to cover both the scheme’s development and its initial period of trading.

Administrators remain confident of Pontin’s sale

Administrators at Southport-headquartered Pontin’s, the iconic British holiday-camp operator that collapsed two months ago, have revealed they are confident of selling the business as a going concern.

Jobs saved through What’s Cooking? sale

A total of 41 jobs have been saved at American dining chain What’s Cooking? after the company’s restaurant in Heswall was rescued from administration. However, 31 jobs are still at risk at the business’ site in Liverpool, Insider understands.

Vimto-maker expects profit rise

Nichols, the quoted soft drinks company based in Newton-le-Willows, today revealed that profitability for the full year is expected to be ahead of current market expectations after a strong first half performance continued into the second.

Weather dampens dry-cleaning business

Johnson Service Group, which is based in Preston Brook and operates its dry-cleaning business from Prescot, this morning revealed that full-year profits in its dry-cleaning business are expected to be £1.6m lower due to “extreme weather conditions” at the start and end of 2010.

McBride to hit lower end of expectations

Personal care products group McBride, which has a strong presence in the North West with sites in Middleton, St Helens, Barrow-in-Furness and Burnley, today said that its full-year performance could be towards the lower end of its expectations due to an uncertain outlook for retailers.

NI businesses offered funding guidance

Insider's Northern Ireland Business of Finance summit, which will explore new sources of finance available to businesses to the country, has confirmed another panelist. Ronnie Wilson, from Monaghan Mushrooms, will join Colin Reid, of Consilium, and David Surplus, of B9 Energy Group, in outlining how they attracted finance to fund their growth.

Brand new North West Top 500 Database 2011

Do you need help sourcing new clients? Insider’s Brand new North West Top 500 Companies 2011 database is our accurate and comprehensive business marketing list. Try our free sample and pre-order to receive a discount offer (expires 31 January 2011).

McAslan wins MSP brief

Architects’ firm John McAslan & Partners (JMP) has been appointed as masterplanner for the main Manchester Science Parks (MSP) campus in the Oxford Road corridor. The practice has been tasked with reshaping the 23-acre site and creating 250,000 sq ft of new floorspace for knowledge sector businesses, increasing the total amount of lettable space at the site to 470,000 sq ft.

Orchard Street buys Bangor retail park

Property investor Orchard Street Investment Management has acquired the St David’s Retail Park in Bangor, North Wales, for £14m. The deal for the 70,000 sq ft out-of-town park reflects an initial yield of 7 per cent.

Trafford Council finds temporary home

Peel has let 41,721 sq ft of space at Quay West to Trafford Metropolitan Borough Council. The deal will lead to the council temporarily relocating to the landmark building in the summer as Trafford Town Hall is set to be redeveloped.

Tague on Tour: Barn to run

The approval of Preston's Tithebarn has predictably led to complaint from neighbouring authorities. Neil Tague considers the future for the controversial development.

Talking Point: Who will be the Pets at Home in 2011?

Insider's North West Dealmaker of the Year 2010 Andrew Thomas, of Rothschild, shares his thoughts on what awaits the dealmaking community in 2011.

Insider: Free tickets and Royal Exchange Theatre membership

For this month only Insider Members can benefit from free tickets and a free trial Membership to the Royal Exchange Theatre. Offer expires 31 January 2011

Management buyouts

Steven Gaunt, head of corporate and commercial at Blue Sky Law, is the latest expert to contribute to our guide to Buying a Business. Steven outlines the necessary steps before attempting an MBO - ask him a question with the below icon.

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