Wholesale craft bakery Artisan Bakes cooks up expansion at Flanshaw Industrial Estate
Yorkshire businesses see drop in financial distress in early 2025
The number of financially distressed businesses in Yorkshire fell in the first quarter of 2025, according to new data from Begbies Traynor’s Red Flag Alert report.
Between January and March, around 40,000 businesses in the region experienced significant or early signs of distress — a 12% drop compared to the previous quarter, equivalent to nearly 6,000 fewer businesses. However, financial distress remains higher than it was a year ago, up 6% compared to Q1 2024.
This regional trend reflected wider national patterns. Across the UK, business distress fell by 12% compared to the final quarter of 2024 but rose by 4% year-on-year, affecting a total of 579,000 companies.
Several key sectors in Yorkshire showed improvements both quarterly and annually. Food and drink production, industrial transportation and logistics, manufacturing, and printing and packaging all recorded declines in distress levels. These improvements align with reports of modest economic growth and easing inflation in the UK during the early part of the year.
By contrast, certain sectors faced growing pressures. Hotels and accommodation saw a 21% year-on-year rise in financial distress, while real estate and property services were up 17%. Meanwhile, financial services, travel and tourism, and automotive industries recorded the sharpest quarter-on-quarter improvements, with distress levels dropping by 20%, 19%, and 16% respectively.
The figures were compiled before the introduction of US global trade tariffs in April, a move that could introduce new economic challenges for businesses in Yorkshire and beyond.
Meridian Solar Farm proposals expand as consultation opens
Plans for the Meridian Solar Farm near Spalding have expanded by around 200 hectares, bringing the total project size to approximately 1,100 hectares. Developer Downing Renewable Developments (DRD) is preparing to submit a planning application later this year and has launched a second public consultation, running until June 8.
Despite the expanded footprint, DRD states that only about 600 hectares would host solar panels, with the remaining land allocated for infrastructure such as cables and battery storage. The solar farm is expected to generate enough electricity to power over 200,000 homes and operate for up to 40 years, if approved. Operations could begin by 2029.
The project’s primary development areas are near Spalding and Crowland, with an additional site east of Sutton St Edmund. DRD is holding three public meetings in May to gather local feedback before finalising its designs. Meanwhile, the Meridian Action Group is opposing the development, arguing that it should be built on brownfield sites to protect agricultural land and food security.
Public consultation events are scheduled at Sutton St Edmund Village Hall (10 May), Crowland Snowden Pavilion (21 May), and Weston Village Hall (22 May).
CorrBoard invests in electric fleet to boost operational sustainability
CorrBoard UK, a privately-owned sheet-feeding specialist based in Scunthorpe, has invested in a fleet of electric clamp trucks and forklifts, alongside a significant expansion of its on-site electric vehicle charging infrastructure.
The business, founded in 2014, manufactures corrugated cardboard and aims to reduce emissions and improve efficiency across its operations. As part of its latest sustainability drive, CorrBoard is replacing its existing forklift fleet with electric models and increasing its number of EV charging points from two to eight.
The company’s investment is intended to support long-term operational cost savings, reduce its carbon footprint, and maintain its position as a leader in sustainable manufacturing in the packaging sector.
CorrBoard operates from a purpose-built facility in North Lincolnshire and supplies corrugated sheet board to packaging manufacturers across the UK.
Grimsby’s Freshney Place redevelopment moves forward with demolition phase
Demolition has started at Grimsby’s former Top Town Market site, marking a significant step in the redevelopment of Freshney Place Shopping Centre.
The project, led by North East Lincolnshire Council and managed by Queensberry, aims to transform the site into a mixed-use retail and leisure destination. Plans include a new Parkway multi-screen cinema, a market hall, and a combined food and shopping space.
The redevelopment forms part of a broader investment strategy for Grimsby town centre and is one of the council’s largest investments to date. It is intended to drive additional investment, support existing tenants, and open up opportunities for new businesses.
Preliminary work, including asbestos removal and dismantling mechanical systems, has been completed. Main contractor GMI Construction Group has now commenced structural demolition, progressing the project to its next phase.
Major letting secured at Moor Lane Trading Estate
Sleaford hotel to receive £1.8m refurbishment funding
North Kesteven District Council has allocated £1.8m for a comprehensive refurbishment of the Carre Arms Hotel in Sleaford. The council, which acquired the hotel last year, aims to protect a key local asset while driving regeneration in the town.
Renovation work, set to begin shortly, will overhaul the hotel’s exterior, bedrooms, roofs, and reception area, with completion expected within up to two years. The project is funded by the council’s share of local business rates, part of which is reinvested in community initiatives.
Since its purchase for just under £1.5m, the council has focused on expanding the hotel’s business, particularly for weddings, conferences, and events, which have seen significant growth. While initial plans outlined a 10-year timeline for investment, urgent repairs have prompted an accelerated schedule for some work. The outdoor area will also be revamped, including new planting to enhance the venue’s suitability for special events.