Middlesbrough pawnbroker aiming to float on London’s junior market February 2, 2017 A Middlesbrough-based pawnbroker has announced plans to float on London’s junior stock market this month. Ramsdens, which is advertised on the shirts of Middlesbrough Football Club, is seeking to raise £15.6m through an initial public offering (IPO) expected on 15 February. The flotation on the Alternative Investment Market (Aim) is expected to price Ramsdens’ shares [...]
Former Tesco finance chief Laurie McIlwee to join the board of Giraffe restaurant chain and Ed’s Easy Diner parent group March 7, 2017 A former Tesco finance chief is poised to join the board of the restaurant group that owns the likes of Giraffe and Ed’s Easy Diner, according to reports. Laurie McIlwee has been appointed executive chairman of Boparan Restaurant Group, Sky News reported, months after being cleared of any involvement in Tesco’s 2014 profit overstatement scandal. Read [...]
Budget 2017: Here’s how the Budget will affect landlords and the buy-to-let sector March 8, 2017 With the housing crisis in full throes, the last few years have been difficult ones to be a landlord – indeed, many have felt punished by measures such as an end to mortgage tax relief and higher stamp duty on buy-to-let homes. The good news for landlords was that today's Budget didn't include any further [...]
Expert for select committee slams Bernard Matthews’ sale and takes aim at insolvency laws October 10, 2016 Evidence submitted to an influential committee of MPs has highlighted concerns over the fate of the Bernard Matthews' pension scheme which has been a casualty the turkey company's pre-pack administration. According evidence submitted by Professor Prem Sikka, Bernard Matthew's administrator Deloitte "carefully crafted" a strategy to "dump" the pension scheme. He has reported his findings to the Work [...]
Financing is difficult but not unsurmountable say high-growth business leaders August 30, 2016 Britain's high-growth companies believe access to finance has sharply deteriorated since the Brexit vote but remain positive they can increase revenues over the next 12 months despite the economic challenges that lie ahead. Over 50 per cent of respondents to a survey by private equity investor ECI said gaining new finance was either "difficult" or "very difficult" – up [...]
Food billionaire Ranjit Boparan set to buy Tesco’s Giraffe restaurants June 8, 2016 Ranjit Boparan, owner of Harry Ramsden's restaurants, is set to buy Giraffe from Tesco. Sky News reports the food tycoon's private investment vehicle Boparan Ventures, which also owns London-based chain Fishworks, is snapping up the restaurant chain for a "modest sum". Boparan, whose known to be worth £1.35bn, is the founder of Britain's biggest chicken supplier 2 Sisters Food Group. Read [...]
Tesco takes a hit on sale of Giraffe restaurants June 10, 2016 Tesco has confirmed it will sell its Giraffe restaurant chain to British restaurateur and food empire giant Ranjit Singh Boparan, the owner of Harry Ramsden's for an undisclosed fee. The supermarket giant also announced today it will offload its Turkish supermarket arm, Kipa in a deal which reduces the company's debt burden by £110m. Tesco bought Giraffe [...]
Going, going, gone: Harris and Hoole sale marks end of Tesco ambitions June 23, 2016 First Giraffe, then Dobbies, now it's Harris and Hoole which Tesco has sold off in its efforts to get back to what it's good at (being a supermarket). The sale marks the last of the major assets that are not part of its core retailing to go, and a curtailing of previous ambitions to expand beyond [...]
City Moves for 2 June 2016 | Who’s switching jobs June 2, 2016 Bibby Financial Services Independent business funder, Bibby Financial Services (Bibby) has appointed Ray Lowrey as UK risk director. First joining Bibby 15 years ago, Ray has held a variety of roles with the financier, including operations manager, head of operations, business director and – most recently – deputy risk director. A member of the Chartered [...]
The four characteristics that make a Leap 100 company April 20, 2016 Each company in the Leap 100 is different. But they all excel in four crucial areas which distinguish them from Britain’s many other innovative and growing companies. In the entrepreneurs, we have looked for leadership and ambition, and in their companies we have looked into their team and money. This is why these qualities are so important. Leadership [...]