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Top story
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Horler looks to grow Ego after buyout
Private equity firm LDC has sold its majority stake in Bolton-headquartered restaurant chain Ego Group to serial entrepreneur Luke Johnson, the former PizzaExpress chairman and co-founder of private equity house Risk Capital Partners. Ego's chairman James Horler, who led an institutional buyout of the ten-strong chain of Mediterranean-style restaurants two-and-a-half years ago, will remain with the business. Speaking to Insider, he said the deal would allow the company to embark on an aggressive acquisition strategy over the next 12 months.
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Deals
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Confetti bought from administration
Online wedding and celebration supplies business Confetti has been bought out of administration in a deal that safeguards 34 jobs, administrators at RSM Tenon have confirmed. The Manchester-based company was placed into administration last month, days after being acquired by online retailer The Hut Group.
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Rescued Southport bakery wins investment
The new owner of Mellors Bakery in Southport has secured a six-figure loan from NatWest’s manufacturing fund to support its expansion plans. Martins Foods, the Manchester-based bakery chain, operates from sites in Newton Heath, Radcliffe and Llandudno and this year bought Mellors out of administration in a deal that saved 60 jobs.
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Motorsave refinances with Co-op Bank
Motorsave Direct, a Crewe-based car dealership, has completed a refinancing deal with the Co-operative Bank’s south Manchester corporate banking centre. The bank has refinanced an existing Barclays mortgage and provided an additional facility to aid Motorsave Direct’s expansion plans.
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Business
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Lifeline for Preston Vision
Preston Vision will live to fight another day after its founders agreed to look into ways of keeping the regeneration organisation going. Chief executive Eliot Ward told Insider the outcome was the best the body could have hoped for.
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Wormald replaces Stenton at LDC
Ray Stenton has left his role as director of LDC in the North West after seven years with the private equity firm. LDC hasn't given a reason as to his departure, but confirmed that Carl Wormald will now be responsible for LDC’s eight-strong new business and portfolio team in Manchester and Liverpool.
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B&M in Liverpool jobs drive
Discount retailer B&M Retail is on the hunt for 200 new employees as it looks to staff its new Liverpool headquarters. The news comes as the company today prepares to open its national head office and distribution centre in Speke after relocating from Blackpool.
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Manchester better placed than rivals, says Muirhead
Geoff Muirhead, who this month leaves his post as chief executive of Manchester Airports Group, said at last night’s Manchester aviation dinner that the city is better placed than its rivals to make progress.
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Aldridge comes to The Lowry
The Lowry and Insider are delighted to offer a unique opportunity to experience an evening of insights and inspiration by Rod Aldridge, the founder of quoted outsourcing company Capita. The event will take place on 29 September at The Lowry, Salford Quays.
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Brand new North West Top 500 Database 2011
Do you need help sourcing new clients? Insider’s Brand new North West Top 500 Companies 2011 database is our accurate and comprehensive business marketing list. Try our free sample and pre-order to receive a discount offer (expires 31 January 2011).
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Property
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Ingall bullish as Avenue launches
Fashion retailers DKNY, Oliver Sweeney, Mulberry, Flannels, LK Bennett, All Saints and Brooks Brothers have announced they will be joining the recently opened Armani store on The Avenue at Spinningfields in Manchester. The news comes as Allied London completed the disposal of No 1 The Avenue to Warwick-based IM Properties for £18.6m.
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13,500 sq ft let at Anchorage
Muse Developments has completed lettings of 13,500 sq ft at the Anchorage scheme, where the company itself occupied space. Muse’s parent company Morgan Sindall has taken 12,500 sq ft while estate agent Reeds Rains has taken 1,000 sq ft to launch its City Living concept.
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M&G deal among Bruntwood lettings
Matthews and Goodman has acquired 7,715 sq ft of office space on the fourth floor at Station House in Altrincham, acting on behalf of Odyssey Interactive.
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Other News
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Wereldhave completes Towers refurb programme
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Devilfish requests share suspension
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Carr’s buys agriculture bolt-on
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Britain good for business, finds Yorkshire Bank
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JJB names new trading director
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