£60k loan secures some jobs and creates others for walking stick company

Stuart Pearcey
-
0
£60k loan secures some jobs and creates others for walking stick company

York-based walking stick manufacturer Neo Walk is to expand, hire three people and safeguard nine jobs thanks to a £60k loan secured by the Business Enterprise Fund.

From an idea born a decade ago in Lyndsay Watterson’s kitchen the company now sends acrylic walking sticks to customers worldwide.

As the sole director of Neo Walk, Lyndsay has steered the company toward international acclaim, selling their elegant walking sticks exclusively through its dedicated website.

In 2007 Lyndsay contracted MRSA after a medical procedure, resulting in irreparable damage to her left leg. Three years later, at age 43, she made the courageous decision to have her leg amputated.

She swiftly adapted to using a prosthetic leg and trained to be a circus performer and took part in the 2012 Paralympics Opening Ceremony in London.

Recognising the immense potential of Neo Walk, the company sought support from the Business Enterprise Fund. BEF responded by delivering a £60,000 loan which was backed by the Recovery Loan Scheme. The seamless four-week loan delivery process involved Lyndsay working closely with Chris Conroy, investment manager at BEF.

The impact of this financial support extended beyond Neo Walk. It significantly boosted working capital, leading to the creation of one full-time job and two part-time positions, while also safeguarding nine existing jobs.

Lyndsay said: “Life may present unexpected challenges, but it’s in our power to turn them into opportunities. Neo Walk is not just about walking sticks; it’s a symbol of resilience, individuality, and the limitless potential within us all.”

Chris Conroy, investment manager at BEF, said: “The investment reflects our commitment to supporting women-led businesses with the finance they need to start or grow their business and impact the communities they serve. Supporting Lyndsay and Neo Walk has been incredible. Lyndsay’s tenacity and dedication to innovation is awe-inspiring. We are honoured to be a part of her remarkable journey and wish her every success as she continues to grow the business.”

Recently, Neo Walk joined forces with Christina Applegate, a renowned American actress who, despite her recent diagnosis of Multiple Sclerosis, continues to inspire millions. Together, they unveiled a limited-edition walking cane, symbolising strength, elegance, and the indomitable spirit.

Leeds engineering services group acquires nuclear manufacturing specialist

Tess Egginton
-
0
Leeds engineering services group acquires nuclear manufacturing specialist

Renew, the Leeds-based Engineering Services Group supporting the maintenance and renewal of critical UK infrastructure, has acquired the entire issued share capital of T.I.S. Cumbria Ltd (TIS), for a total cash consideration of £4.7m. 

Based in Cumbria, TIS is a nuclear manufacturing and fabrication specialist. In line with the Group’s strategy, the acquisition enhances Renew’s nuclear services offering by immediately doubling manufacturing capacity and strengthening Renew’s position in the growing nuclear decommissioning and new build markets.

Paul Scott, Chief Executive Officer of Renew, said: “This acquisition will allow Renew to continue to support its existing clients and take advantage of increasing demand across the decommissioning and new nuclear build programmes.

“The added manufacturing capacity will allow Renew to better support its existing clients, as well as strengthening its broader market position.

“TIS represents an excellent strategic fit with our existing multidisciplinary nuclear capability, which offers attractive long term structural growth opportunities underpinned by highly visible committed regulatory spend in a sector that we know extremely well. I am delighted to welcome the management and staff of TIS to the Renew family.”

Concept Life Sciences carves out Bradford business

Tess Egginton
-
0
Concept Life Sciences carves out Bradford business
Integrated drug discovery, development and manufacturing organisation, Concept Life Sciences has carved out its Bradford analytical chemistry business to Cormica, the specialists in testing services for medical device and pharmaceutical manufacturers. Both Concept Life Sciences and Cormica are part of private equity house, Limerston Capital LLP and sit as part of its healthcare portfolio. The deal will include the transfer of all employees based at the Bradford site to Cormica. They will remain located at the Bradford office and business will continue as normal. The divestment of the Bradford business represents a strategic move for Concept Life Sciences, allowing the company to sharpen its focus on its core service offerings, spanning from drug discovery to early-stage development pathways. Mark Hammond, CEO of Cormica, said: “Cormica has an ambitious growth strategy, trained on full service regulated testing across, physical, chemical and microbiology. We know the Bradford business and its team well and the opportunity to strengthen our expertise in analytical chemistry will significantly strengthen our market position and provide an enhanced service to our customers. “The deal made sense on a variety of levels, and, thanks to our existing relationship, was relatively simple to facilitate. We are now looking forward to integrating the team into Cormica and to identifying the immediate opportunities this will bring.” Ben Cliff, CEO of Concept Life Sciences, added: “It has been a busy year for the business, and we have had the much-needed chance to review our operations and our longer-term strategy which will help us to realise the company’s full potential. “Bradford has been an important part of our story so far however its offer aligns much more closely with Cormica which has a shared customer base and audiences. This deal will allow us to concentrate on our core service lines, working with our highly skilled team to drive our work in key markets.”

Lindum Group starts work on £5m plan for York Racecourse upgrades

Stuart Pearcey
-
0
Lincoln-based Lindum Group is redeveloping part of York Racecourse to create extra lawns, bars, betting facilities, and food stands in the seventh project it has undertaken at the venue in the last eight years. These upgrades are at the venue’s southern end, around the Bustardthorpe Stand, as part of an ongoing plan to enhance the overall experience of visitors. The £5m scheme will include demolition of the existing facilities and construction of the new Roberto Bar, upgrades to the Theakston Bar, and a new William Hill betting areas. Lindum York MD James Nellist said: “We are thrilled to be returning to York Racecourse, where we have developed a fantastic relationship over the years, including the full redevelopment of the Northern End, County Stand Enclosure and the Course Enclosure. “Being based in York and employing local people means we all have a strong connection to this historic racecourse. We are thrilled to be involved with the continued development here at York, and hope people will enjoy the new facilities for many years to come.” Work will also include the installation of PV solar panels on the existing roof of the stand to improve sustainability at the Racecourse and reduce some of the running costs. It is expected the work will be completed in time for the 2024 racing season. William Derby, Chief Exec and Clerk of York Racecourse, said: “These improvements are another sign of the clear vision held by the York Race Committee to ensure we remain one of the world’s best racecourses. The Committee has a track record of investing in the facilities, race programme, and visitor experience. “This latest chapter aims to improve the facilities for racegoers in the Grandstand and Paddock area, following similar recent investments elsewhere. As a summer venue, we want to provide lawns to enjoy, however we are mindful of the Yorkshire weather, so we are looking to repeat the success of the canopy that sits above the John Carr Terrace. “Practical concerns around a better arrival experience, more loos and easier access to both food and drinks and how we better support our race day team, all form part of this ambitious scheme.”

Steel signing marks fresh progress at Tileyard North

Tess Egginton
-
0
Steel signing marks fresh progress at Tileyard North
A steel frame has been put in place at building 15, Tileyard North – the latest progress at the site. The building will house new workspace and hospitality offerings, looking onto the courtyard area. The overall project is regenerating the Grade II-listed former Rutland Mills on the historic waterfront into the largest creative community outside of London, bringing together people across West Yorkshire working in industries such as music, film, television, and design. Cllr Denise Jeffrey, Leader of Wakefield Council, said: “Working alongside our partners, Wakefield’s historic waterfront is becoming a vibrant space for creativity. “We are incredibly proud of this transformation work. It has, and will continue to have, such a positive impact for people and businesses in our district and across our region.” Cllr Michael Graham, Cabinet Member for Regeneration and Economic Growth, said: “It is great to see the progress that’s being made on this building and elsewhere on the site as work continues to transform the former mill complex. “What was once a set of derelict buildings is becoming a vibrant space for creativity for businesses, people, and entertainment. This redevelopment continues to put Wakefield on the map as a great place to live, work, invest and visit.” Tileyard North is already making an impact with creatives, musicians and artists alike – from Uber Agency and Architecture 1B, Pure Energy GO and Tidy Trax, to Audoo and Music Factory. With resident studio holders Matt Sanchez, Nick McEnally, James Oliver and Real Movement Music settling in. In the first six months, they’ve had the privilege of hosting more than 30 events with over 20,000 attendees – both private and public. Amongst these, they’ve welcomed the Hepworth Print Fair, Ceramics Fair, and most recently, Peddler Market Wakefield. The waterfront project is being developed by regeneration specialists CPPI (City & Provincial Properties Investments Ltd) who along with the Council and the West Yorkshire Combined Authority have funded the project. Paul Kempe, director of CPP, said: “The completion of the frame of the new build is yet another significant moment in time as it forms the final piece of the courtyard and will open up a direct route to the river Calder and all of the additional facilities that will be built around it. “This will provide further public realm opportunities for Wakefield residents to enjoy and continue to shape and enhance Tileyard North as a destination for the whole community.” Ben Hall, Yorkshire area director for Morgan Sindall, said: “Our Yorkshire team is based here in Wakefield, and over recent years it’s been a privilege to have worked on so many projects that have helped improve the city’s social, cultural and economic standing. “Our work at Rutland Mills is no different, and this event was a great opportunity to celebrate the progress our team is making on what will be a new jewel in the crown for the city.” Phase one of the development includes over 20 music and creative studios, characterful office spaces, much-needed event spaces as well as leisure facilities. Phase two is underway and includes the restoration of 1 mill building and demolition of 1 building to make space for a new build creative industries office space. A bid for Levelling Up funding has unlocked £8m for this project and will benefit residents and businesses.

Manufacturing expert appointed as chief business advisor to Mayor of West Yorkshire

Tess Egginton
-
0
Manufacturing expert appointed as chief business advisor to Mayor of West Yorkshire
An aerospace manufacturing expert has been appointed to the newly created role of business advisor to the West Yorkshire Mayor. Mandy Ridyard, of Bradford-based firm Produmax, will chair a new board of local council and private sector leaders, tasked with driving forward Mayor Tracy Brabin’s pledge to champion the regional economy. The move follows the launch of the West Yorkshire Plan, written in partnership with the region’s council, charity and business leaders, which sets out a mission to deliver economic growth and higher living standards. Ms Ridyard has pledged to listen to the region’s diverse base of almost 100,000 businesses, ensuring that their challenges and opportunities are understood by the Mayor and five council leaders of Bradford, Calderdale, Kirklees, Leeds and Wakefield. Commenting on her appointment, Mandy Ridyard, business advisor to the Mayor of West Yorkshire, said: “I can’t wait to get stuck into this new role, where I’ll draw on the strengths of all our businesses and sectors, offering a listening ear and making sure their voices are heard. “As the Mayor’s business advisor, I’ll be laser focused on economic growth – supporting our businesses to boost their productivity, build their resilience, access talent, become more sustainable and innovate for the future. “With the Mayor’s devolved powers and funding, this is a unique opportunity to transform our ecosystem and create an environment where businesses can thrive, creating well paid jobs and raising living standards for all.” By bringing together businesses and agreeing how best they can be supported, the Mayor’s business advisor will help to influence private and public sector partners at home and abroad, delivering jobs, investment and opportunities to local people. Ms Ridyard will also work closely with business representative organisations such as the West & North Yorkshire Chamber of Commerce, to help ensure the needs of different clusters of businesses are met by the region’s political leadership. In West Yorkshire, these internationally significant business clusters include digital and healthcare technology companies, advanced manufacturing businesses across textiles and furniture, and precision engineering firms specialising in satellites and telecommunications. Tracy Brabin, Mayor of West Yorkshire, said: “Mandy’s appointment as business advisor marks an exciting new chapter in our West Yorkshire story – one where all our businesses are listened to and lifted up to reach their full potential. “As someone who moved to West Yorkshire to start and scale a business, Mandy understands the challenges and opportunities our business community faces because she’s lived them herself. “By match-funding businesses to green their processes, upskilling and retraining staff to meet labour market needs and investing in local entrepreneurs and startups, we’re growing our economy and building a stronger, brighter West Yorkshire.” Ms Ridyard, whose aerospace engineering firm was hailed “SME of the Year” in 2021 by manufacturers’ organisation Make UK, has chaired various regional business groups including Space Hub Yorkshire, the West Yorkshire Innovation Network, and the West Yorkshire Digital Skills Partnership.

Historic Sheffield manufacturer placed into administration

Tess Egginton
-
0
Historic Sheffield manufacturer placed into administration

Thessco Ltd, manufacturers of brazing alloys and contact materials since 1760, has been placed into administration with Joanne Hammond and Kris Wigfield of Begbies Traynor appointed as joint administrators.

One of the world’s largest manufacturers of silver brazing alloys, metal joining products and industrial silver alloys, Thessco has its head office and production site in Royds Mills, Sheffield.

The company ceased to trade upon the appointment of administrators with the expected loss of all 47 jobs. The administrators are currently working to ensure the best return for creditors.

The company’s directors said: “It is with heavy hearts that we have been forced to make the decision to close Thessco Ltd in Sheffield, following a year of turbulent market forces. Spiralling energy prices, increased raw material costs and the significant rise in finance costs have all had a huge impact on the business.

“We would personally like to thank all our staff for their hard work and dedication, and all our customers and suppliers for their loyalty.”

Joint administrator Joanne Hammond said: “It is very said to see the demise of such a historic Sheffield business, but, unfortunately, market conditions make it unviable for it to continue. As well as supporting employees, we will be seeking the best return for creditors and anyone interested in purchasing plant or machinery should contact us.”

The Attercliffe site has been occupied by Thessco, which was originally The Sheffield Smelting Company, since 1788. In recent years, it has developed to include the busy tenanted Solpro Business Park which will continue to operate as part of Solpro Manufacturing Limited, hosting a variety of businesses.

Thessco SAS in France will continue to serve all its traditional precious metal markets both within the EU and the UK.

Final phase of Addington Capital’s Headingley Park gets underway

Michael Fisher
-
0
Final phase of Addington Capital’s Headingley Park gets underway
Addington Capital, the property investment and asset management specialist and its investor partner ICG have started work on the final phase of their Headingley Park residential scheme.  An additional 70 new residential units will be created at Stockdale House; the fifth and largest building on the site. Headingley Park is an office to residential conversion scheme in which four office buildings have already been converted to create 152 residential units.  This final phase of 70 units at the fifth building, Stockdale House, will take the overall development to 222 units. Work has started following the NHS vacating the offices in the building. Stockdale House is being converted under the last major PD Prior Approval issued in Leeds and the new units will be provided over ground and five upper floors. The scheme is designed to meet current space standards and will be completed in Q3 2024. The Headingley Park development has proved attractive to young professionals and post graduate students in Leeds, due to being close to the City Centre and the University, in a large 6.5-acre parkland setting. Individual buildings provide 30 to 40 units which are predominantly studio, one and two-bedroom apartments. The conversion has been well received by renters to date, with the completed phases being 100% let and achieving rents of £900 and £1,275 pcm for one- and two-bedroom apartments.

Pilot scheme will aim to get more disabled people into work

Stuart Pearcey
-
0
Pilot scheme will aim to get more disabled people into work
Bradford, Doncaster, Hull, and York are amongst a dozen areas where a pilot scheme will explore barriers to work for disabled people and people with health conditions. The plan is part of the next generation of welfare reforms being introduced by the Department for Work and Pensions. The government is taking long-term decisions to reform the welfare system so it better supports disabled people and people with long-term conditions into work, growing the economy and changing lives. The announcement marks the next step in this agenda, with thousands more out of work benefit claimants set to receive additional support to chart a path back to work with an employment and health practitioner. Under the new initiative, the claimants and health practitioners develop a ‘work ability plan’ over a one-hour conversation, identifying barriers to employment and actions and support to overcome them. The plan is then shared with their work coach to continue support to overcome their barriers and move them towards work. Government says it will mean health claimants can highlight and begin to overcome any work barriers before a Work Capability Assessment, potentially realising a job outcome sooner. Secretary of State for Work and Pensions Mel Stride MP said: “We are pushing ahead with the next generation of welfare reforms to ensure benefit claimants get as much support as soon as possible to move towards work and the more prosperous life that brings.

“This pilot is an important part of that, helping people understand what they need to do to move towards employment through a simple and effective conversation. The findings will help us build the new disability benefits system once the Work Capability Assessment is removed later this decade.”

Government instructs councils to stop four-day working week schemes

Stuart Pearcey
-
0
Government instructs councils to stop four-day working week schemes
Councils should stop any four-day week trials immediately and rule out adopting the practice in future to ensure taxpayers’ money is well spent, according to new government guidance issued to the sector today. The publication comes after letters from Minister Lee Rowley to South Cambridgeshire District Council, calling on the local authority to cease its trial over value for money concerns. The guidance sets out the government’s position that removing 20% of a local authority’s potential capacity does not offer value for money for residents. It makes clear that value for money for taxpayers is paramount and no further focus should be given by councils on this issue. The Department for Levelling Up, Housing and Communities is also exploring measures to ensure the sector is clear this should not be pursued. Minister for Local Government Lee Rowley said: “The Government is being crystal clear that it does not support the adoption of the four-day working week within the local government sector. “Local authorities that are considering adopting it should not do so. Those who have adopted it already should end those practice immediately. “Those councils who continue to disregard this guidance are now on notice that the Government will take necessary steps in the coming months to ensure that this practice is ended within local government.” The guidance says: “Councils which are undertaking four-day working week activities should cease immediately and others should not seek to pursue in any format. Value for local taxpayers is paramount and no further focus should be given by local authorities on this matter. The department is also exploring other measures to ensure that the sector is clear that this working practice should not be pursued.” The Government continues to support an individual’s right to request flexible working, which allows individual employees to apply for changes to the hours, timing, or location of work, which is clearly different to a blanket four-day working week on a full salary, across the whole organisation. In July, DLUHC launched the new Office for Local Government to increase councils’ accountability for their performance. Oflog will ensure the sector can access clear and high-quality performance data and examples of great practice from other councils.
1...438439440...940Page 439 of 940