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Top Story
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HSBC weighs in with New Brighton funding
HSBC’s North West corporate banking division has signed a £24m funding agreement with developer Neptune that allows the start of Neptune’s major New Brighton redevelopment scheme. Bowmer & Kirkland has now been officially confirmed as main contractor. The scheme includes a Morrison’s supermarket, Travelodge, a cinema and assorted leisure aspects. The first phase of the scheme was completed in 2008 with the award-winning 800-seat Floral Pavilion and Conference Centre. Neptune chairman Peter Hynd said: “This is a huge milestone for the Wirral. We are thrilled to have secured HSBC’s support despite challenging market conditions, which clearly reflects on the quality of Neptune’s proposals.”
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Deals
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Shanghai bidder eyes Liverpool FC
It may be a coincidence but the involvement of the city of Liverpool at the World Expo in Shanghai may yield a significant Chinese investor in Liverpool FC. The Independent has named Zhu Jun from The9 Ltd – a Chinese online gaming business and the owner of Shanghai Shenhua of the Chinese Super League – as a potential bidder. In this week's Deals In Focus blog, Insider editor Michael Taylor provides an end-of-season round-up of the deal activity at the region's Premier League football clubs. To read more, click here.
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RD saved and sold in pre-pack
Aerospace engineering firm RD Precision, based in Queensferry, has been bought by Gardner UK for £1.14m following a pre-pack administration. The business manufactures precision parts for aircraft wings, with approvals to supply a number of aviation firms including Airbus, Hawker Beechcraft, Stork Fokker and BAE Systems. North West restructuring partners at Grant Thornton, Matt Dunham and Les Ross, were appointed joint administrators of the company. Dunham said: “This was the most attractive deal for the creditors as it provides certainty of the outcome, will save a number of jobs and protected the existing supply line for its customers.”
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Business
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Drinkwater hails Liverpool’s early success
The North West director of the UK Trade and Investment (UKTI) has hailed the early success of Liverpool’s pavilion at the World Expo in Shanghai. Approximately 2,000 people have passed through the stand each day, said to be treble the number of visitors to other city pavilions in the Urban Best Practice Area, including the likes of Venice and Pondicherry in India. UKTI’s Clive Drinkwater said: “I have been around the other pavilions and they are not a patch on Liverpool. The pavilion is teaching people things about the North West region which they did not know.”
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Bakery chain enters administration
Southport craft bakery chain Mellors Limited has gone into administration, Insider understands. Joint administrators from Leonard Curtis were appointed at the company in late-April. The administration comes less than two years after the business secured a £500,000 working capital facility from RBS Invoice Finance to help it meet the demand for its confectionary products. Mellors, which can trace its history back to 1840, is owned by husband and wife team Chris and Dawn McLintic, who bought the business in 2004. It is thought to have employed approximately 100 staff with a turnover of more than £3.4m. Leonard Curtis declined to comment.
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Jobs at risk as RBS to cut 2,000 from insurance division
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Morecrofts adds three
Merseyside law firm Morecrofts has appointed three new solicitor associates. The appointments include Mark Fergusson, who has recently joined the company after more than ten years in the legal sector, Gaynor Lanceley and Helen Dring. Morecrofts managing partner Helen Broughton said: “We aim to bring a fresh and dynamic approach to Liverpool and also the North West’s legal services and these three people, with their backgrounds and knowledge, are very welcome additions to our team.”
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Find the Olympic opportunities, urges LOCOG chief
The chief executive of the London Organising Committee of the Olympic and Paralympic Games (LOCOG) today encouraged more businesses and organisations in Cheshire and Warrington to take advantage of the opportunities created by the 2012 Olympic Games. Paul Deighton was speaking at a Legacy Conference, organised by the Cheshire and Warrington 2012 Steering Group. He said: “It’s impressive to see that the 2012 Games have already inspired so many local groups and businesses to get involved. I hope by turning the spotlight to Chester and Warrington we will encourage others to find a way to make part of this once-in-a-lifetime opportunity their own.”
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Property
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Wates at the double in Liverpool
The University of Liverpool has awarded Wates Construction a £13m project to build its new Central Teaching Laboratory. Work is scheduled to begin in May, with completion expected in July 2011. The three-storey building will be located adjacent to the Undergraduate Lecture Theatre, at the heart of the university’s science campus. Last month, Wates landed a 319.5m contract with Liverpool John Moores University for a new campus at Mount Pleasant.
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Ask the Expert – sustainable construction
Andrew Thomas, the chief executive of the Centre for Construction Innovation (CCI), is stepping into the Ask the Expert hotseat. CCI runs the North West Construction Knowledge Hub, which offers advice and training workshops for small businesses to help respond to the opportunities and threats posed by climate change. Andrew can answer questions on how companies in the industry can improve processes, increase sustainability and, in turn, become more competitive in the difficult marketplace. If you have a question you’d like to ask Andrew, click here to use our anonymous online form.
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Here be dragons as Pochin wins in Wales
Pochin Construction has been appointed to build a 25-metre high dragon sculpture to sit on a 40-metre high tower overlooking Wrexham. The Cheshire builder, which delivered the Welsh Assembly Government’s regional office at Llandudno Junction, will start work on the “Waking the Dragon” sculpture this autumn. The sculpture is the long-held dream of local businessman and entrepreneur Simon Wingett, who said: “Pochin is a well-respected name in construction and one that we are confident will deliver on time and to budget.”
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