United owners set to pay off £220m PIK loan

Manchester United’s owners the Glazer family are reportedly set to pay off £220m of their high-interest payment-in-kind (PIK) loans. Holding company Red Football Joint Venture is said to be ready to pay off the entire PIK debt next week. The move will reduce financial pressure on the club.

Crane Co pockets Money Controls

US industrial products manufacturer Crane Co has agreed a deal to buy Oldham-headquartered Money Controls, a maker of coin payment machines, for an undisclosed sum. Ken Collett, manufacturing director at Money Controls, told Insider the change in ownership will provide strong growth opportunities for the business and its 350 employees in the North West.

Moneysupermarket buys online rival

Moneysupermarket.com, the internet comparison site operator, has acquired rival Financial Services Net. Moneysupermarket, which is based in Flintshire, will pay an initial £4.6m, rising to up to £9m depending on performance, for the Coventry-based operator of Financialservices.co.uk. Moneysupermarket said the acquisition would provide “a platform for the group to broaden its brand offering to a wider range of customer segments in the money and insurance (divisions)”.

Housing trust secures £15m Co-op backing

The “Johnnie” Johnson Housing Trust, a not-for-profit housing association based in Poynton, has secured £15m in funding from The Co-operative Bank. The cash will be used to assist with new social housing developments and maintenance of its existing stock over the next three years.

Begbies moves for Staffordshire firm

Corporate recovery specialist Begbies Traynor Group, headquartered in Manchester, has acquired a Staffordshire business Walletts Insolvency Services for an undisclosed sum.

Strong demand at James Cropper

Kendal paper and materials manufacturer James Cropper today said that demand for its products remains strong and it expects to “transform the profitability” of the group in the coming years. It recorded a profit before tax of £1.2m for the six months to 25 September, down from £1.7m in 2009.

Losses widen at Byotrol

AIM-listed anti-microbial hygiene company Byotrol, which has pioneered a cleaning product that kills bacteria such as MRSA and E.coli, has reported falling revenues and widening losses for the six moths to 30 September. However, the business said last year’s results were boosted by an “exceptional increase in demand” relating to the swine flu scare.

PKF appointed Priory Care administrators

Conwy-headquartered care home operator Priory Care has been placed into administration. The company, which operates homes in Wrexham, Mold and Suffolk, employs more than 100 people.

Complete Set of Top 500s - Purchase all Six

You can now purchase Insider’s Complete Set of Top 500 Companies 2010/2011 Databases at an exclusive promotional rate: A bundle of our accurate and comprehensive regional business marketing lists - featuring six UK regions. Special promotional offer expires 31 January 2011.

Public-private the future for development, says Bernstein

Projects with a public sector body taking an equity stake or using their borrowing powers are the short-term future of development in Manchester, the city council’s chief executive has told Insider. Sir Howard Bernstein said: "Our interventions are about making prudent investments in inherently viable projects that will improve job provision and place-shaping."

Corridor site adds new tenants

International technology manufacturer Cooler Master Group and legal consultancy FB Wright & Associates are the latest businesses to sign up for space at Manchester Science Parks’ Corridor site.

Travelodge confirms MEN Arena move

Budget hotel operator Travelodge has exchanged contracts on a new 200-bed hotel next to the MEN Arena in Manchester. The company said the move was part of its strategy to target Britain's largest entertainment venues.

In Focus: What next for LDC?

LDC is likely to pursue a life outside of Lloyds. Michael Taylor wonders when this may be...

Talking Point: Finding the energy

Given the government’s renewable energy targets, and the country’s need for energy, does the North West require more energy plants? James Flynn from law firm Heatons looks at the future of the region’s energy sector.

Forthcoming Experts

Role of the corporate finance adviser

The first expert in Insider's new guide to Buying a Business is Stephen Verber, partner at Alexander & Co, discussing the vital role of corporate finance advisers. Read on for his advice.

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