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Co-op closes in on Somerfield

Manchester-based Co-operative Group is closing in on a deal to buy Somerfield for £1.6bn in a move that will propel the mutually owned business into direct competition with the retail giants. An analysis of the strategy of The Co-operative Group is the subject of Insider magazine’s cover story in the July issue, out this week. Peter Marks, chief executive, told Insider: “ln five years’ time I’d like it to be Britain’s premier retail brand. That’s where we are heading." The deal with Somerfield is expected to complete next week.

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Deals
Iomart finds BT to buy Lancaster business

Ufindus, a Lancaster-based web directory business, has been bought by BT for £20m. The business was part of Iomart, a Glasgow-based hosting and service business that had sought a buyer for the business for some time, but will continue to be a hosting partner. Ufindus was founded by Lancaster entrepreneurs Mark Hallam and Stuart Forrest in 2002 and last year made £1.45m on revenues of £14m. Hallam told Insider: "This is an absolute recognition of what we've built here. It will mean BT can take on Yell.com."


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Plastic fantastic deal
AWB Plastics has acquired Wrexham-based rival Silvergate Plastics - a business division of Vita Thermoplastic Compounds - for £1.7m. The deal was financed by the AWB management team with capital from Finance Wales and Venture Finance. Silvergate Plastics, a Wrexham-based business, employs more than 50 members of staff and last year recorded a turnover close to £6m.
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Business
Hilden calls in the administrators
Hilden Manufacturing in Oswaldtwistle yesterday appointed Ernst & Young as administrator. The linen textiles business, which imports and finishes linen, has annual sales of around £15m and employs 80 staff. The administrators propose to continue to trade the company and are actively seeking a sale of the business and assets as a going concern.
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Preston curry factory raided by border police

Police have raided the premises of Shazan Foods in Walton Summit, Preston in a crackdown on illegal immigrants and four foreign workers have been arrested, reports the Lancashire Evening Post. A South African, three Indians and a Pakistani were arrested, but the owner of the business maintains all is in order. Nadeem Ayyub said: "We spoke to the immigration people and showed them all the paperwork - we have done everything right on our side."


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Grab a graduate
The University of Manchester has launched The Manchester Graduate Internship Programme to help local employers recruit graduates and retain skills in the region. The programme aims to provide graduates with the work experience they need to develop their careers, while showcasing employment opportunities. The internships, which last between four and 12 months, aim to provide employers with a flexible, low-risk staffing solution and interns will receive training in key skills such as negotiation, commercial awareness and leadership. Interested employers include small companies across all sectors, Tesco and The Co-operative Group.
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Parkwood well placed to weather storm
Preston-based Parkwood, the quoted specialist support service group, this morning announced revenue increases in its Parkwood Leisure business of 27 per cent in the first half of 2008 thanks to new contract wins in the division, which manages education, health and leisure facilities mainly in the public sector. The green services division, Glendale, whose services include grounds management and green waste recycling, also performed strongly. The group's total order book stands at £530m, said executive chairman Tony Hewitt, who added that Parkwood "is well placed to weather any downturn in the economy as it has a largely public sector client base and indexed-linked contracts."
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Rooney's agent banned
Paul Stretford, the founder of Proactive Sports Management and the agent of Wayne Rooney, has been banned from acting as a football agent for 18 months and fined £300,000. The Football Association's independent commission found Stretford guilty of seven charges relating to his acquisition of the rights to represent Rooney in 2002 and to a trial in 2004 when charges were dropped against three men accused of blackmailing him. Stretford described the verdict as a travesty.
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Spending to slow, says PwC
Consumer spending growth in the UK will slow to just 0.5 per cent in 2009, according to the latest UK Economic Outlook by PricewaterhouseCoopers. With utility bills, food, rental payments and debt servicing all rising, discretionary spending will suffer. PwC estimates that debt service costs rose to record levels of just under 20 per cent of household disposable income in 2007 and will provide a persistent drag on consumer spending growth. David McKeith, North West senior partner, said: "The outlook for household spending growth in the UK is looking more subdued now than at any time since the early 1990s."
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Food glorious food
Food industry recruitment consultancy Focus Management has agreed a deal with Dutch food sector specialist DUPP, where the companies will advertise vacancies on each other's websites and work together on international client accounts. The Macclesfield group was founded in 1990 by ex-Marks & Spencer executives Stephen Jones and Michael Staniland. Jones said: "We are working in a pan-European market. Clients need access to talent across the EU in the full range of food jobs."
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Property
Smooth Booths deals for Bruntwood
Bruntwood has completed a 10,519 sq ft letting at Booths Park in Knutsford to Iris Software Group, its 12th deal of the year at the scheme, in which it has invested in a £11m redevelopment. Bruntwood's Matthew Duckworth said: "The £17.50 rent we've agreed with Iris, which includes 40 car spaces, represents exceptionally good value in the Knutsford market, where quoting rents have reached £18.75 a sq ft." Iris will consolidate three offices - Nantwich, Lymm and Handforth - into its new regional headquarters.
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Makin progress in Ancoats
On behalf of Moylan Homes, Makin Architecture has won planning permission for what it says will be Manchester's first carbon zero-rated apartments. The Xantium building, on the edge of the city centre and Ancoats, will include 61 apartments designed to meet Code 6, the highest rating under the new ratings for sustainable homes. There will be four commercial units at street level designed to BREEAM Excellent standards.
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AEW enters room 101
Manchester-based AEW Architects has obtained planning consent for an apartment scheme adjacent to Manchester's first tram shed, at 101 Queens Road, Salford. Development plans for the 0.2-acre site, owned by Oldham-based Westshield Homes, envisage nine apartments, car parking and a large amenity deck with private garden areas or balconies.
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Seddons on a pair in Bolton
Bolton contractor G&J Seddon has started work on a 20,000 sq ft extension to Bolton School, meaning that it has £11m worth of contracts currently on site in its home town. The company is already on site with a new £6.8m Williams BMW and Mini showroom on Manchester Road, a facility that will replace the existing Bradhawgate site and is the second Williams dealership to be built by Seddons.
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