| - |
|
Top story
|
Cains pub closures begin as ownership story unfolds
Loss-making pubs owned by the Cains Beer Company are being closed by administrators at PricewaterhouseCoopers (PwC) as they attempt to achieve a sale of some or all of the business and realise value for creditors. The closure programme started yesterday, but PwC is yet to reveal details of which of over 100 establishments are affected. Meanwhile, it has emerged that the Dusanj family, which acquired the Liverpool brewer and pub operator in 2002, still owns the freehold on the brewery and nine pubs through a separate company. This means that future owners would be paying rent to the family, but it has fuelled speculation that the Dusanj brothers may be one of over 50 parties interested in acquiring the business.
|
Small businesses prepare for festival boost
Liverpool's Mathew Street Festival is predicted to give local businesses a much-needed boost over the bank holiday weekend. The North West branches of the Federation of Small Businesses (FSB) have welcomed the return of the outdoor music show and Beatles-fest after last year's event was cancelled for health and safety reasons. Chris Burgess, chairman of the FSB's Liverpool branch said: "Bar and restaurant businesses rely heavily on revenue generated by this festival, so the decision to cancel last year's event was devastating." The Mathew Street Festival regularly attracts more than 100,000 people to the city. 
In step with CFS training
Cheshire-based training and development company Instep UK has been made a preferred supplier to Co-operative Financial Services (CFS). Instep UK will work as a partner with a newly established department - dubbed the âuniversity for all' - that provides centralised training, learning and development across the company. Instep UK has already designed a series of self-directed learning modules available to employees via CFS's intranet. CFS is one of Manchester's largest employers and is made up of The Co-operative Insurance, Smile.co.uk and The Co-operative Bank.
Funding secured for university enterprise champions
The University of Liverpool and Liverpool John Moores University (LJMU) are among five universities in the region that will receive a share of a £930,000 funding pot from the Northwest Regional Development Agency (NWDA) to establish Enterprise Champions, helping graduates to be successful entrepreneurs. The champions will aim to increase business start-ups in the North West by offering guidance and practical support to students and graduates who show entrepreneurial ideas and commitment. The University of Salford, University of Cumbria and Manchester Metropolitan University will also set up champions, who will build on the lessons learnt from the existing enterprise champion network at LJMU.
|
Hotel site valuation delays development
Liverpool-based developer Downing faces further delays in its redevelopment of the derelict Scandinavian Hotel in Chinatown as it awaits a decision by the Land Tribunal over the value of the site. Former owners, including businessman Jimmy Wong and property developer Frenson, are appealing against the £660,000 price tag set in a Compulsory Purchase Order last year. Downing development director Paul Houghton said a hotel operator has not yet been secured, "partly because of the lengthy process involved in acquiring the site" and the evolving Liverpool hotel market. "Downing is reviewing how best to take forward the Scandinavian site but it's very difficult to progress and secure funding when you don't know the value of the land. We await the decision of the Land Tribunal with great interest," he said.
Work underway at Lime Street
Work has started on the £3.4m upgrade of Liverpool's Lime Street station, which will see the construction of a number of new facilities on the area between platforms seven and eight. The investment from Network Rail, and supported by Virgin Trains and Merseytravel, includes two new passenger lounges, an information point, three shops and railway staff accommodation. Preparation work has also begun on the Lime Street Gateway project designed to unmask the listed Victorian frontage of the station and improve access. The development will involve the demolition of Concourse House and the row of shops in front of the main station building.
Joint agents appointed at Aston Point
CB Richard Ellis and Davies Harrison have been appointed as joint agents on the sale or letting of Aston Point, a 44,812 sq ft distribution facility in Runcorn. The new warehouse is located on the Whitehouse Industrial Estate two miles from junction 11 of the M56. The property is available to let by way of a new full repairing and insuring lease, or alternatively, for sale of the freehold interest.
Phase two underway at Heron Business Park
Widnes Regeneration, the joint venture between St Modwen Properties and Halton Borough Council, has started the second phase of speculative development at the town's Heron Business Park. The scheme will comprise 19 business units, providing 73,700 sq ft of modern industrial space, available on a short-term lease or by purchase of a 250-year lease. St Modwen said the move to press ahead with the development follows a high level of interest for the first phase, which is now 80 per cent let. Work is expected to be completed by January 2009.
|
JJB shares up as takeover speculation mounts
Shares in JJB Sports leapt 13 per cent yesterday amid speculation of a takeover at the Wigan-based retailer. The company's share price rose 15.25p to 132p following reports that chief executive Chris Ronnie and Icelandic financial services group Exista had approached other major shareholders with an offer to buy their shares for 150p each. The reports indicated that that the shareholders approached, Legal & General and Harris Associates, would be willing to sell for an offer closer to 180p. Ronnie and Exista acquired 28.9 per cent of the equity from founder David Whelan in June 2007.
|
|
Contact Us
Insider
8th Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY
Telephone: +44 (0)161 907 9711
Email:
nw@insiderdaily.co.uk
|
|
Subscribe
To subscribe to the eBulletin,
click here.
|
|
- |
