There is a golden opportunity right now for companies working to fill vacancies by taking on prison leavers. Not only does it help grow the economy but it is proven to cut crime.Over 90% of businesses employing prison leavers report they are motivated and trustworthy – making them prime candidates to plug some of the current skills gaps in the UK.
Scheme attempts to get ex-offenders into work with household name companies
Red Arrows fly-past marks opening of newly built dye bay facility
Greener future ahead for cleaning product manufacturer following £175,000 investment
A West Yorkshire cleaning product manufacturer which supplies the hospitality and leisure sectors has secured £175,000 investment from Finance Yorkshire.
The Proton Group was established more than 50 years ago and specialises in cleaning products for the hospitality sector. Known for innovation they work closely with many of the UK brewers and have unique product and educational offerings.
The Proton Group employs more than 25 people at its manufacturing plant which includes warehousing and distribution facilities. The business is targeting £5m turnover this year.
Managing Director Murray Angus says the investment from Finance Yorkshire’s Business Loans Fund will support the company’s growth strategy as it develops new, innovative products which are more environmentally friendly.
He said: “The investment gives us a cash boost to invest in our plant and equipment while also working on new products for our customers. Innovation is important to us, and we have just seen the launch of a new specialist product range that will be used by technicians within the trade, aimed at saving money and time for the brewers.
“We have a focus on sustainability and currently pursuing how we can support this both with alternative packaging solutions and less harmful chemicals.”
Alex McWhirter, Chief Executive of Finance Yorkshire, said: “The Proton Group is a well- established Yorkshire business with a strong track record of innovation and product development which has been integral to its success over the last five decades.
“We are pleased to support the company as it continues to innovate and win new contracts in its target markets.”
West Yorkshire business joins forces with university to revolutionise water monitoring
Future of Leeds law firm secured, safeguarding 540 jobs
Administrators appointed to bingo business
Tim Bateson and Chris Pole from Interpath Advisory have been appointed joint administrators to Majestic Bingo Limited.
Majestic Bingo is an independent operator of retail bingo, operating eight clubs across England and Wales and employing 143 people at the time of the appointment of the administrators.
Historically profitable, the company was adversely impacted by lockdowns during the COVID-19 pandemic which caused significant reductions in admissions which have since failed to fully recover.
In May 2021, the company’s bingo hall in Spalding, which was a profitable venue, suffered a serious fire as a result of an electrical fault and subsequently never reopened.
More recently, the cost-of-living crisis and the fall in disposable incomes seen across the UK since late 2021 has also adversely impacted the business.
Consequently, the financial performance and position of the group has declined in recent years, leading the company to experience cashflow challenges. As a result, the directors resolved to place the company into administration.
Following their appointment, the joint administrators will continue to trade the business and all eight venues as a going concern while they explore options for a sale of the business and its assets. All members of staff have been retained by the administrators to enable trade to continue.
The joint administrators have confirmed that they will honour customers’ Electronic Bingo Terminal (EBT) funds and any valid gift vouchers for the period whilst trading continues.
Majestic’s online business, Majestic Bingo Online Limited, is a separate entity which is not in administration and continues to operate on a solvent basis as usual.
Tim Bateson, director at Interpath Advisory and joint administrator, said: “Majestic is one of the UK’s most recognisable independent bingo operators, but in recent years has seen trading adversely affected by the impact of lockdowns during the COVID-19 pandemic, as well as the cost-of-living crisis.
“We will continue to trade the business in the immediate term while we seek a buyer for the business, and would encourage any interested parties to make contact with us as soon as possible.”