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Top story
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Consortium bids to take Piccolino-owner private
A new business led by Malcolm Walker, the founder of frozen food retailer Iceland, has launched a bid to take Manchester restaurant chain Individual Restaurant Company (IRC) private. Walker, already a major shareholder in Piccolino owner IRC, has teamed up with the company's chief executive Steven Walker to make the £5.67m bid.
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Deals
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Silentnight looks for CVA as bank pulls facility
Lancashire bed manufacturer Silentnight has entered a formal Company Voluntary Arrangement after Yorkshire Bank withdrew facilities. The business is said to be trading well but has a large pension deficit.
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Harman refinances with Venture
Knutsford photographic manufacturer Harman Technology has secured a £4.95m refinancing facility with invoice and asset-based financier Venture Structured Finance.
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CityFibre completes restructuring
Three businesses bought from Newton-le-Willows-based i3 Group earlier this year have been placed into administration and bought back by their existing management team. CityFibre Holdings bought H2O Networks, Fibrecity Holdings and Opencity Media in March.
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Business
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Businesses honoured in Queen’s Awards
Twelve businesses in the North West have today been named as winners of the Queen’s Awards for Enterprise 2011, one of the most prestigious corporate awards for British companies. Winners include Manchester commercial flooring company James Halstead, Altrincham marketing agency Barrett Dixon Bell and Chester-based EA Technology.
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GB profits to beat market forecast
GB, the Chester-based identity management specialist, has provided a trading update for the year to 31 March 2011 in advance of its annual results being announced in June. The group is expected to announce profits ahead of the market consensus, which had been upgraded in October 2010.
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Administrators called in at Safe & Warm
Safe & Warm, a supplier of corporate workwear, hi-vis clothing and protective safety equipment, has ceased trading after entering administration.
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Something for the bank holiday weekend
This week: Panther in the pink; Wallace & Gromit motor on; and Aisle, Altar, Hymn.
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Gain new business contacts…
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Property
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Warrington – town centre is the key
Warrington is getting development off the ground to become a more rounded economy. That was the message from the launch of the Warrington Annual Property Review 2011. Andy Farrall, executive director of environment and regeneration at Warrington Borough Council, said: "The word ‘regeneration’ doesn’t really appear any more in what we’re trying to do. It’s about economic growth."
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Eatonfield confident on short-term financing
Cheshire property developer Eatonfield has updated shareholders on its financial position and revealed that the sign off on a £250,000 working capital facility with Royal Bank of Scotland is now "imminent".
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Lawnhurst estate bought in £60m deal
The Lawnhurst Trading Estate in Stockport has been bought by the Scottish Widows Investment Partnership as part of a deal worth more than £60m. Property consultancy Lambert Smith Hampton (LSH) acted for the purchaser to acquire the £60.5m St Martins industrial portfolio.
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Other News
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Report reveals BAE impact
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Irwin Mitchell eyes external capital with restructure
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Burton's to consider Unite plans
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P3 offers St James’s space
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