|
-
|
|
Top story
|
Congestion charge sets collaboration example
Manchester needs to work more closely with surrounding towns and smaller cities on issues such as congestion charging, if the region is to compete on a global scale, according to another think tank report. The UK Cities in the Global Economy report from centre-left think tank Centre for Cities calls on the government to double its efforts to help UK cities adjust to globalisation. But the report urges local authorities to collaborate more effectively and to be more realistic about their global ambitions. “The recent adoption of the proposal for the Greater Manchester Congestion Charge and the Transport Innovation Fund bid is an example of how local authorities are starting to realise the need to look beyond their borders, but the uncertainty surrounding the referendum also highlights the difficulties in delivering this change,” says the report. “In a global world, delivering this level of cooperation beyond administrative borders needs to be the norm, not the exception.”
|
|
|
Deals
|
A Mexican wave across the region
The pair behind restaurant chain Barburrito is confident their business is recession proof following an expansion investment by Cenkos Securities’ Rapid Realisations fund. The management team of Morgan Davies and Peter Kilpatrick retain a minority stake in the business but will be at the forefront of the expansion of the Mexican fast-food operation. “We have the first burrito bar in the UK, which is a new concept,” Davies told Insider. “And our price point is cheaper than our competitors, which makes us recession proof.” The new funding will enable Barburrito to expand on its two Manchester outlets – at Piccadilly Gardens and The Trafford Centre – taking the total to ten by the end of 2010. A new restaurant will open at the end of September in retail development Liverpool One.
Back in the fold
The former managing director of Scottish paper mill Curtis Fine Papers, Keith Chapman, has set up a consultancy business to offer refinancing and turnaround support to the paper, packaging and plastics sector. Wilmslow-based Revelation Consultants will provide marketing advice, business planning, assistance with acquisitions, turnaround support and business re-engineering. Chapman brings with him 20 years of manufacturing experience, most recently at Curtis, which fell into administration in the summer.
Take a Close look
Global advisory practice Close Brothers Corporate Finance is planning to take the upper mid-market by storm following the opening of its first regional office in Manchester. Managing director Richard Pulford, who joined the firm from PricewaterhouseCoopers, told Insider that he was close to signing mandates with two companies looking at buying opportunities. He said: “We will work on bigger and more complicated deals over £30m where there is quite a lot of activity. Large corporates maybe looking to sell off non-core subsidiaries, take advantage of cheap prices to buy small businesses or come off the market if they are listed.” Pulford is planning to boost his staff headcount into double figures within three years.
What future for AIM?
North West capital markets heavyweight Andrew Wright, partner at law firm Cobbetts, has dismissed the negativity surrounding AIM and called on companies to look closely at the reasons they joined the market in the first place. Speaking to Insider, Wright said: “To say AIM is finished is rubbish. If a company is there for the right reasons then they should be able to ride this out.” Companies on AIM have seen their share prices plummet this year amid falling investor confidence with many directors reportedly considering take-privates. “There are a lot of companies vying for attention but there are a lot of analysts out there now. If you want to get liquid then start doing things and get some good financial PR,” he said.
|
|
Business
|
Jobs boost from NHS move
Up to 150 jobs will be created in Manchester following a move by the NHS to overhaul the way it deals with complaints. The Parliamentary and Health Service Ombudsman (PHSO) is to open a new office city centre in January 2009 to add to its 300-strong team in London. Colin Sinclair, chief executive at investment agency MIDAS, said: "With the arrival of the PHSO, and the recent relocations of other Department of Health bodies, we are now seeing a healthcare cluster emerging in Manchester, which is great news for the future."
Rates hike to hit retailers
Retailers across the region will face a 16 per cent increase in their rates bills from April 2010, according to research from GL Hearn and Investment Property Databank. Stephen Robertson, director general of the British Retail Consortium, said: "Extra costs inevitably filter through to higher prices. Retailers, already suffering the economic slowdown and increases in property costs, have worse to come." Business rates are based on an assessment of the rent a property would fetch on the open market and recalculated every five years. Rentable values of retail properties increased by more than 20 per cent between 2003 and 2008.
US move for Pareto
Wilmslow-based Pareto Law is moving into the US market after winning two contracts. Pareto, which was established in 1995 as a graduate recruitment and training organisation, will provide commercial skills training to Duff & Phelps - a provider of independent financial advisory and investment banking services - and sales training to GFI Software, an IT security specialist.
Double delight for Code
Manchester-based digital marketing agency Code Computerlove's relaunch of the National Union of Students' website goes live today. The company won't have time to rest on its laurels, though, having been appointed digital agency partner to holiday company Butlins.
DC Research launches in Cumbria
A new economics and regeneration consultancy based in Carlisle and the East Midlands has been launched. DC Research offers evaluation, economics and regeneration policy and strategy advice. The company, founded by Jonathan Durnin and Dr Stephen Connolly, is the culmination of 25 years' combined experience in consultancy, policy development and academic research. The founders both began their careers at the Centre for Regional Economic Development in Carlisle in the 1990s.
Forths first in Manchester
Leeds-based forensic accountancy firm Forths has opened a new office in Manchester. The firm, which specialises in insurance litigation and personal injury work, was established six years ago and has since grown its three employees to a staff of 20.
Cuts will be made
Employers in the North West are braced to make a string of redundancies, according to research from Manchester-based employment law and HR consultancy TP People. The property industry fared worst, with 62 per cent of estate agents planning to make redundancies in the next six months and 71 per cent freezing recruitment. Estate agents were followed by financial services, where 60 per cent are expected to make cuts, with construction, the leisure sector and PR and marketing making up the rest of the top five.
|
|
Property
|
Good neighbours
Warrington-based workplace design and fit-out specialist Claremont Group Interiors has completed a design and build project for GB Oils's North West headquarters. Claremont completed the design & fit-out of the fuel and lubricant supplier's office in 2007. Claremont was then awarded the £130,000 contract to extend GB Oils' premises. Both companies are based in Birchwood Business Park.
|
|
New Insider out this week
|
Not so rich now
The September issue of Insider is out this week with our annual Rich 100 – an assessment of the wealthiest individuals in the region – and for the first time in more than a decade, North West wealth has decreased. We also interview the man in charge of drinks brand Vimto, John Nichols, and David Conn investigates the future of Salford City Reds’ bid for a new stadium. A special feature on masterplans looks at how the discipline will survive the property downturn and the deals section explores how to buy a business out of administration and what really is going on at Bank of Scotland. Insider also canvasses regional big hitters to find out whether the Northwest Regional Development Agency has proved good value for the region.
|
|
|
Contact Us
Insider
8th Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY
Telephone: +44 (0)161 907 9711
Email: nw@insiderdaily.co.uk |
 |
Subscribe
To subscribe to the eBulletin,
click here.
|
|
- |
