With eight North West football clubs competing in the FA Premier League in the 2009/2010 season, the onus is once again upon the financial stability of football's business model. In the weekly look at trends in corporate finance Michael Taylor looks at the status of proposed deals to change ownership for the region's clubs. Click here to read more.

The sale of Four Seasons Healthcare has been delayed to allow the company more time to negotiate with its creditors. In a statement the company said "the decision has been taken in the light of the group's senior lenders having recently reached agreement to support a consensual restructuring proposal. This leaves only a minority of the junior lenders who have not agreed to the restructuring terms." Last week Hatfield Philips, which had been appointed to represent the creditors during restructuring negotiations, said it would launch a sales process after ithad not received "all the requisite formal consents".

Stockport-based Canterbury Europe, which distributes branded sports and leisurewear, has gone into administration with the loss of 72 jobs. The rest of the Canterbury Group, including the global Canterbury brand, which was founded in New Zealand, is unaffected by the administration and continues to trade normal. Administrators at KPMG will continue to trade the business while they look for a buyer. All sponsorship contracts have been terminated as part of the administration and affected clubs will rank as unsecured creditors.

Regional business support initiative Ambition Club, which is run by Radcliffe-based Wilds Chartered Accountants, is set to be expanded. The company, which launched the scheme in September 2008 to help companies survive and grow in the current climate, has already joined forces with Bolton accountancy firm Stafford & Co and is in talks with an unnamed Newcastle firm to offer the service in the North East. Business development director Mick Seddon said the scheme offered "like-minded companies an opportunity to improve many aspects of their businesses".

Arthur Ferry is joining law firm DWF in August as finance director. Ferry, who has more than 25 years of experience in the legal and industrial sectors, is moving from the UK arm of law firm Baker & McKenzie where he was chief financial officer. A chartered accountant by profession, Ferry spent the early part of his career with the former accountancy firm Touche Ross & Co in London before moving into industry. Since then he has been finance director of BP Coal Southern Africa, BP Malaysia, United Utilities International and Eco-Bat Technologies.

Lancashire banking heavyweight Dave Jones has left The Royal Bank of Scotland (RBS) to join regional law firm KBL Solicitors. Jones, who worked with RBS for over 35 years, will work a business development consultant with a brief to grow the practice and attract new clients. He is also at the centre the Bolton & Bury Business Awards, which is well regarded in the local business community.

Regional businesses are showing signs of confidence again, according to the latest Business in Britain survey from Lloyds TSB Commercial. The balance of firms expecting an upturn in sales has increased by 5 per cent compared to six months ago, with 33 per cent anticipating a rise and 28 per cent braced for a fall, which is ahead of the national average. There is also some improvement in the number of companies expecting to increase staffing levels, with 11 per cent planning to recruit before the end of 2009. But the survey also warned that profits would remain under pressure. Thirty-seven per cent of the 500 northern companies questioned expect profits to fall.

The vice-chancellor of Manchester Metropolitan University has called on the region to address the growing skills gap. John Brooks has responded to the new Vodafone Working Nation research, which reports that nearly a third of regional managers are lacking the necessary skills base as a result of the recession, with 40 per cent of workers claiming increased stress levels from learning new skills. Brooks said: "This must be seen as an opportunity to gain competitive advantage by strategic planning to fill the gap now." He said a two-pronged attack of informing the graduate supply chain and providing continuing professional development packages, would address the problem.

Plans to remodel the Old Trafford Metrolink stop have been given the go-ahead. Greater Manchester Transport Authority and Trafford Council are jointly funding the £1.8m project, which is aimed at making the system easier to use at peak times. The main change will be to close the existing underpass and provide an at-level crossing that will let passengers switch platforms simply by walking across the tracks. The move comes as the first of Metrolink's new trams arrived in the city from its manufacturing site in Vienna.

Intertek, provider of quality, testing and safety services, is merging its two key facilities in the North West to create a European Analytical Testing Centre of Excellence in Manchester. The resources and expertise of Intertek's North West Technology Centre at Bebington on the Wirral and the Analytical Sciences Group laboratory in Manchester will combine to offer an extended range of analytical services, delivered from one centre at Intertek's current location in Manchester.

International industrial chains business Renold, which is headquartered in Manchester, has reported an increase in revenues for the year to 31 March from £172.6m in 2008 to £194.7m in 2009, although operating profits fell from £12.2m to £7.6m as the second half of the year was impacted by the economic downturn. Aggressive cost reduction has resulted in £14m of annualised cost savings in a year that saw the acquisition and integration of the industrial chain business of LG Balakrishnan in India.

Bglobal, the Darwen-based smart meter company, has increased revenues by 48 per cent to £6.64m in the year to the end of March, according to preliminary results released by the quoted company today. Earlier this month it secured a £15m finance facility to further drive the roll-out of its services. Turnover and meter installation numbers rose during the year and chief executive Anthony Barnes said: "With new meter asset funding now in place, confirmation of aggressive roll-out plans by major utilty customers, clear signals from the government on the importance of smart metering to climate change reduction in the UK and a strong forward order position, we are confident in the outlook for the year ahead."

At today's annual general meeting the chairman of Cyprotex, the Macclesfield-based drug discovery technology and information company, will annouce that performance remains ahead of the same period last year. In 2008 the company delivered a maiden profit, grew revenues 43 per cent to £5.2m and was cash generative. "The company has continued to perform well in the current year," said Steve Harris. "It has been an uncertain period for some customers and competitors alike in our industry and we have experienced reduced orders from a small number of important customers as a result. However, this has been offset by increased demand from other customers and for new products."

Creative consultancy The White Room has commissioned digital agency Fudge to create the logo for Technique, a forthcoming training event for interactive developers in Lancashire. The event aims to improve developers' technical skills while also exploring new technologies.

The regional housing market showed signs of recovery in June, according to the RICS UK housing market survey. The net balance of surveyors expecting price increases rose for the first time since May 2007, which has reportedly been driven by the continuing up-turn in buyer enquiries and falling levels of fresh supply. RICS' regional spokesperson John Halman, from Gascoigne Halman, said activity levels had risen to an 18-month high and that the industry was "cautiously optimistic".

The plans for The Co-operative Group's new Manchester head office have been submitted to the city council. The group plans to build its new head office on land it owns on Miller Street, opposite the Co-operative Insurance tower. The new building will serve the UK's largest mutual retailer, which now has a turnover of over £13bn. Key features of the plans include a design by architects' firm 3D Reid for 325,000 sq ft of open plan office space on 15 storeys. If planning permission is granted, work will start on the building at the beginning of next year with occupation scheduled for 2012.

Preston-based architecture practice The Frank Whittle Partnership (FWP) has two new recruits. Steven Burgess has become senior architectural technologist, while Michael Turner joins as architectural technologist. One of FWP's major ongoing projects is the £100m scheme from Peel Holdings to create a new racecourse and forest park in Salford.