The move follows a period where the company says its has been rocked by multiple challenges – a period of difficult trading prior to the pandemic, the financial impact of the pandemic itself, followed immediately by the current surge in fuel prices and the cost-of-living crisis. This has led to unsustainable commercial losses and we see no alternative other than immediate closure of Powell’s.
“This is a very sad day for us all at HCT Group” said Lynn McClelland, HCT Group Chief Executive. “Everyone at Powell’s – and across the wider HCT Group – has worked tirelessly to put the operations in Yorkshire on a sustainable footing, but there is nothing further to be done.
“We are still hoping that SYPTE can identify new operators for our services, which will protect services for the public and secure jobs for our colleagues. However, there can be no doubt that there will be disruption for the travelling public and distress for our team as this process works itself through.
“It has been our pleasure and privilege to serve the people of South Yorkshire since we began operating services in 2018, and an honour to work with such a dedicated team. I am saddened for those colleagues whose livelihoods are affected and for the passengers in Yorkshire who rely on us. I am deeply sorry that this is the outcome we face.”
YFM makes significant follow-on investment in Outpost VFX to accelerate growth
YFM Equity Partners (YFM), which is headquartered in Leeds, has made an additional multi-million pound investment in the UK-headquartered film and TV visual effects company Outpost VFX through its British Smaller Companies VCTs. This will enable the business to continue its rapid scale-up by investing in high calibre artistic talent, company culture and its tech infrastructure.
Outpost VFX has grown internationally and now has studios in Los Angeles, Mumbai, Montréal and London, in addition to their Bournemouth studios, which is also their global headquarters. The VFX house partners with global streaming platforms such as Netflix, Amazon, and Apple, and with major Hollywood studios including Universal, Paramount, CBS and Lionsgate. Recent high-profile projects include Thor: Love and Thunder, House of the Dragon and Westworld. Recently, the company has been nominated for two Emmy Awards for The Man Who Fell to Earth and for Foundation, and a Visual Effects Society Award, for News of The World.
Since YFM first backed Outpost VFX in February 2021, the business has seen rapid growth, delivering 150% revenue uplift in its first full year of trading since investment. It has continued to build its team which has increased almost four-fold to service continuing growth, including strengthening its management with a number of key appointments such as Robin Shenfield who joined the board as chair, leadership teams for each of the new geographies, while also strengthening the team in the UK studio. The most recent of these hires being Rachel Matchett, as managing director in the UK and Tim Chauncey as global CTO.
In addition to funding growth capital, the initial funding from YFM has accelerated the development of Outpost’s production management IP, further developed its training and career pathways IP, and helped it to build out a unique global IT architecture. The latest funding round will enable the company to continue to develop its IT infrastructure and accelerate its global cloud transition, in order to be fully transitioned within the next 12 months. This will not only help with the business’ ongoing commitment to providing even better service to clients, but will also help Outpost to continue to differentiate itself as an employer of choice.
Duncan McWilliam, founder and CEO of Outpost VFX, said: “YFM has been a supportive partner, initially investing in us post-pandemic when others were cautious. We appreciate their ongoing support and value the fact that they share in our vision and ambitions. In addition to growing our artistic talent and tech infrastructure, further developing our company culture and scaling it globally is a priority as we, like YFM, recognise that it is our people who differentiate us. Our ongoing cloud investment will not only improve our service to clients, but will also enhance the working experience of our people. We will continue to invest in the cloud, along with integrating sophisticated project management software and training programmes.
“With demand for quality visual entertainment continuing to be high across the globe as both streaming and film production surges, there is an exciting opportunity for us to accelerate growth. We are increasingly seeing larger projects enter our facilities and we are encouraged by the visibility of a strong pipeline of work, supporting our ambition to scale our offering to support our clients and our people better. It’s great to see YFM’s confidence in our plans and we are enthused by the opportunities that the follow-on investment will enable us to pursue.”
Roux Brits, portfolio director for YFM, added: “This is our second investment in Outpost VFX in under 18 months and demonstrates not only our belief in the management team’s vision, but also YFM’s readiness to support investee businesses to take advantage of ever evolving opportunities to accelerate growth. With YFM this year celebrating its 40th anniversary, we have supported over 300 high-growth businesses and look forward to supporting many more.”
The YFM investment team comprised Roux Brits and Charles Winward. With thanks to YFM’s advisors including Evershed-Sutherland LLP (legal), Igor Boshoer (technical) and Kreston Reeves (financial).
Great Lincolnshire LEP is still on the lookout for new non-exec directors
The Greater Lincolnshire LEP is seeking new Non-Executive Directors as it seeks to improve the lives and opportunities of communities and businesses in Greater Lincolnshire and Rutland.
The organisation is looking for at least three Non-Executive Directors from the private sector to join its Board, particularly focused on:
- SMEs
- Green energy
- Young entrepreneurs
Quick letting for Sheffield business park
Nexus Multi Academy Trust have secured a unit on Broadfield Court, Sheffield.
The established company, specialising in teaching support, will provide further diversity to the business park.
The unit comprises 1,895 sq ft and is situated just south of Sheffield City Centre, providing great access links for the Academy.
Amy Howard, of FHP’s Office Department, said: “With the property being situated in Sheffield, it was certainly new territory being predominantly based in Nottingham. That being said the traction received on this unit remained strong and we received several offers.
“It is great to see this deal cross the line and within such a quick timeframe. The Academy’s goal was to complete within a month of being under offer. The consistency and focus from both parties allowed this to happen. It has been a pleasure to work on this deal and I wish Nexus Multi Academy Trust all the best at Broadfield Court.”
Four bids submitted for ambitious regeneration projects across Kirklees
Kirklees Council have submitted four bids for government funding, each of which is aimed at improving different areas around Kirklees.
The bids are for the government’s Levelling Up Fund (LUF) which is all about making investments that will improve everyday life for people up and down the UK. There’s £4.8 billion available to bid for, and bids should have the aim of improving town centres and high streets, local transport, and cultural and heritage sites.
Kirklees Council’s four bids focus on improvements to Batley, Marsden, Northumberland Street in Huddersfield, and the Penistone railway line.
Batley
The council’s bid for Batley is all about the town centre, making it a more modern destination, and a safe and inviting environment for everyone. The council want to make significant changes to Commercial Street, one of the main roads running through the town centre. It’d move away from being dominated by car traffic, and the council would be looking to make access better for pedestrians and cyclists. It would also make a lot of improvements to the surrounding spaces and create a great new place for socialising. The council would also use the funding to bring a prominent but disused building on Commercial Street back to life – what used to be JBM Bargains. Instead of sitting empty, it could be used by another business which would provide more interest in the town centre. Overall, these improvements to the town centre should drum up more footfall for local businesses, and should also make it easier to access the big Tesco. The council would also create a versatile events space in front of the town hall, allowing Batley to host market days and a wide range of other events. This is a style of flexible events space that’s already worked well in Huddersfield. This bid would be for around £12 million.Marsden
The bid for Marsden would focus on Marsden Mills, a mill complex which has stood vacant for years in the town centre. A key part of the plans is retaining the mill’s historic façade. The rest of the building would be partially demolished, allowing the council to create a new building which would be great for local businesses and the town centre. Once completed, this new building would be made up of shops and office space, with the potential to turn the top floors into residences. This would all be surrounded by beautiful landscaping and would encompass a beautiful new courtyard. The historic façade would remain a key feature. The project would be led by private companies and supported by the council. The bid would be for £5.6 million, with private partners providing a further £11.7 million towards the plans.Northumberland Street, Huddersfield
Huddersfield has historically been a market town, and the bid for Northumberland Street reflects that. The council want to create a new, improved market on the site of the existing Open Market – a market which would be vibrant and sustainable, focusing on great independent traders with great food and drink offer. This project would include restoring a Grade 2* Listed building, creating a new open market structure, and making improvements to the areas around the market too. The Listed building would be restored to its former glory and would become a new indoor market, with nine food and drink outlets, stalls for fresh food and dry goods, and a big shared seating area capable of seating more than 300 people. The council would also create a new outdoor structure between this building and the Tesco car park, which would be the open-air market offering around 60 stalls. The project should cost around £18 million.Penistone railway line
This bid is around improving rail connections between Huddersfield, Barnsley and Sheffield, helping trains run more frequently and reliably. There are a lot of delays on this line at the moment. This funding would add sections of track between Huddersfield and Barnsley – a big help, as currently, only one train can run at once. The council would also work with Northern Trains and Network Rail to improve stations and waiting points along the line and look at ways to increase speed limits. This ties in well with Network Rail’s upcoming work on the Transpennine Route Upgrade. The bid would be for just under £48 million. Councillor Shabir Pandor, leader of Kirklees Council, says: “These bids show the scale of our ambitions across Kirklees. Each of them is transformative for our economy and they can provide jobs and opportunities for decades to come. It’s investment like this that offers the best protection against future cost of living crises. “Our proposals for Batley, Marsden and Northumberland Street in Huddersfield would breathe new life into some of Kirklees’ beautiful historic buildings, while creating exciting new developments to boost our local economy and bring communities together. Meanwhile, our bid for the Penistone railway line would further strengthen our connections with the north and beyond. “These plans will modernise our economy, but they’re also in tune with our local heritage. We’re making sure what we love about our district, old and new, can survive the test of time and thrive in the twenty-first century. “Kirklees has a bright economic future. We already have a major investment programme for our economy and infrastructure, and these projects would help us deliver even more of our incredible potential.”Rotherham Council to make final Levelling Up bid
Rotherham Council has put together a bid of almost £20 million for money from the Levelling Up Fund for a further two projects in the borough.
If successful the money will be used to create a new mixed-use development in Wath town centre, as well as delivering significant improvements to Dinnington High Street and market
The Council has already had two of its three bids for funding from the Levelling Up Fund approved by the government, with almost £40million agreed to help improve the Leisure Economy and Skills in the borough and Rotherham Town Centre.
This marks the third and final bid for the Council taking the total possible funding to £60 million to be spent on projects which aim to spread the benefits of this opportunity across the whole borough.
Work earmarked for Dinnington includes; clearing the burnt out buildings, investment in the outdoor market and the creation of a new commercial square which aims to enhance the retail and food and beverage offer in the town and improve public realm and connectivity.
The proposal was developed in collaboration with ward councillors based on the neighbourhood plan and previous local consultations. Local stakeholders will have the chance to influence the final designs if the bid is approved.
In Wath, the existing Library will be demolished and replaced with a mixed-use building with a greater offer to include; library and exhibition space, sensory provision, collaboration space, café and commercial units. The public realm around the building will also be improved including new ‘play on the way’ equipment.
Wath ward councillors have helped shape the bid proposal for the new hub to include facilities which benefit local residents.
The Council’s cabinet member for jobs and the local economy, Cllr Denise Lelliott, said: “We have put together three bids that will reach out to all areas in Rotherham and help us to continue the progress we’ve already made to regenerate our town, create jobs and build a better borough.
“If successful this final bid will make a real difference to local residents of Dinnington and Wath, providing new facilities and enhancing the retail offer to ensure these much-loved town centres remain vibrant and well-used.”
Government are expected to announce the outcome of the bids in Autumn and if successful the Council will have until March 2025 to deliver on the projects.
Bradford bids for multi-million-pound levelling up
Bradford Council has prepared a set of bold and ambitious bids totalling over £100m to present to help ‘Level Up’ the district and deliver a swath of economic, social and cultural benefits.
Independent analysis has shown the district to be the UK’s number one Levelling Up opportunity containing significant latent economic potential.
The four bids have been designed to optimise significant economic growth, jobs and prosperity and would deliver a significant return for every pound invested by the government.
Many of the bids also seek to address much-needed health and wellbeing outcomes, making significant contributions to reducing health inequalities.
In Bradford South, Odsal could become the new national home for rugby league with a game changing state of the art culture and entertainment stadium.
While respecting its iconic historic status, the existing stadium would be carefully rebuilt to modern standards with a new roof to create a world-class high capacity sports, entertainment and training complex.
The top-tier stadium could deliver over one £1bn of wider benefits to the Bradford District over ten years and pave the way for the Bulls to return to the Super League once again.
The revamped Odsal venue could support the district to capitalise on its City of Culture status by providing a world class stadium to stage high volume arts and entertainment events.
In Bradford East, a new modern health and wellbeing centre providing a wide range of medical services, training and function rooms and sports facilities could be developed at the Karmand Centre in Barkerend.
The rundown Greenwood Centre in Wood Lane could be transformed into a new facility offering a range of health services, along with day care for older people and those with mental health problems. Rehabilitation and weight management programmes would be offered and a 24-hour triage room would be created for health emergencies. Welfare, debt, housing and money management advice would be provided and high quality spaces would be created for youth and community groups.
New purpose-built sports facilities could be developed at the Parkside Centre in Bowling Park using a match-funded bid to create a state of the art cricket hall, gymnasium, multipurpose rooms, flexible offices, a meeting room and community café.
Working with education partners, Bradford Council plans to give education and training a boost to drive local high skilled, highly paid local jobs. Keighley College and Bradford University Advanced Manufacturing hub would be reconfigured and expanded to include a new high tech facility supporting research and development in emerging technologies such as advanced robotics.
The Council has also put in a bid so it can partner with private developers to clear and upgrade six Keighley brownfield sites around local Business Development Zones in Royd Ings and Dalton Lane to provide 32,000 square metres of prime business space with the potential to host over 700 jobs.
And another bid could transform the Keighley Worth Valley Railway into an enhanced rail transport hub offering workers a fast and efficient commute into the area.
Bingley Pool could be transformed into an attractive, modern new leisure facility with six lane swimming pool, gym, studio and café.
An arts trail would provide an interactive link to Mytle Park and Bingley town centre could receive a facelift with attractive new landscaping, seating and lighting, and a modern new cover for the market square.
Councillor Susan Hinchcliffe, leader of Bradford Council, said: “Bradford District represents an incredible opportunity for the government to deliver its Levelling Up agenda.
“We have worked hard to develop a range of bold bids designed to unleash our economic potential, deliver jobs and prosperity and address deprivation and health inequalities.
“We are the UK’s number one Levelling Up opportunity and if supported, these bids will provide game-changing benefits to the district and our residents.”
The Recruitment Group expands into Yorkshire with eighth acquisition
Derbyshire-headquartered The Recruitment Group has completed its eighth acquisition – of MYNT Recruitment, expanding its footprint into Yorkshire.
Established in 2004, MYNT has offices in York, Hull and Rotherham and specialise in recruiting for the Commercial, Industrial, Professional and Technical sectors.
The Recruitment Group’s group Managing Director, Paul Hipkiss, said: “This is a great milestone for us, as it signifies the next stage of our growth and another great business joining our family. Mynt and The Recruitment Group have a lot in common. Both companies share the same values and are dedicated to providing industry-leading service. Our combined expertise will bring loads of new job opportunities to Yorkshire.”
Martin Shaw, Managing Director of MYNT, added: “When we were looking for a buyer for our business, we needed to find a company that shared our values, focus on customer service and who had the vision matched with the expertise to take MYNT Recruitment to the next stage of our development. I can’t wait to see how our business and employees develop in the future. It’s certainly exciting times and my team and I can’t wait to see where this journey takes us.”
MYNT founder, John Stanton, is now leaving the business to retire. He said: “As I enter retirement, I am really pleased that Martin and I found a buyer who shares those exact same values and the ethos on which I formed this business back 2004 and I know that whilst we have had great success, that The Recruitment Group will take our team to that next level.”
The deal is set to take The Recruitment Group’s headcount to nearly 150 and increase its footprint to 15 locations nationwide.
New rules will put anti-litter pressure on takeaways
New rules will help make sure takeaway food businesses play their part in cleaning up high streets, or face financial penalties, the Department of Levelling Up, Housing and Communities has said.
Updated guidance will clarify the powers councils in England have to set stricter litter rules for new hot food takeaways when considering planning applications, including making sure that more bins are installed to reduce rubbish in the surrounding area.
The move will help create cleaner town centres, with figures showing that fast food items are the fourth most common type of litter found on UK high streets.
Levelling Up Secretary Greg Clark said: “We are empowering councils to make sure new takeaway food businesses are doing their bit to stop rubbish littering our high streets.
“It is just one of the many ways we are improving the environment and making sure we can all take pride in the local communities we call home.”
The guidance will give councils clear and consistent advice on what rules they can enforce when new takeaways open, such as ensuring they install more bins and anti-litter signs around shops or have staff members pick up litter regularly. Failing to adhere to these rules could result in financial penalties.KCOM in the running for three telecoms industry awards
East Yorkshire-based broadband provider KCOM has been shortlisted in three categories in the Oscars of the telecoms industry, including Best Consumer ISP (with more than 100,000 customers), Best Infrastructure and Best Customer Innovation at the Internet Services Providers’ Association (ISPA) Awards 2022.
KCOM has been nominated alongside national competitors Now, Sky and TalkTalk in the Best Consumer category and is up against Openreach in the Best Infrastructure category.
KCOM Chief Executive Tim Shaw said: “It’s particularly pleasing to have been nominated in the Customer Innovation category for all the work our teams have done to support local people struggling with the cost of living crisis by making our Flex Social tariff more accessible and affordable.
“As a local company at the heart of the region, it’s important that we stand shoulder to shoulder with the communities we serve and this is great recognition that we’re heading in the right direction. We’ll look forward to finding out if we’ve won later this year.”
The winners will be announced at an awards ceremony in London in November.
ISPA Chair Steve Leighton, said: “This year’s ISPA Awards shortlist is an excellent reflection of the vibrant and exciting broadband sector. From household names, new entrants and scale ups, to infrastructure builders, vendors and those serving consumers and business, ISPA is pleased to be showcasing the achievements made in the past twelve months that is seeing fibre deployment accelerated, data usage and speeds increased, and more support than ever being offered to customers struggling with the cost of living. I look forward to seeing the winners unveiled in November.”
Powell’s Bus placed into administration by parent company HCT
HCT Group is putting its South Yorkshire subsidiary Powell’s Bus into administration, with the last service having run at 5pm last Friday.
