▲ Alcedo Care Group increased its turnover from £14m to £24m for the year ending March 2023. The 70 per cent increase was the result of organic growth, the opening of new locations and the addition of new services such as live-in care, complex care and children’s services.
▲ The Blackburn site of waste management special CSG Recovery has launched a new service to recycle solar panels. The firm’s new process is able to recycle 96 per cent of every solar panel unit. CSG says millions of first-generation photovoltaic solar panels are coming to the end of their useful life and would otherwise be sent to landfill.
▲ Preston-based City Group Managed Services has won the contract to oversee the renovation of the Grade II-listed chimney at Tulketh Mill in its home city. The 56m structure is undergoing remedial repair as part of a project to transform the mill into a modern, mixed-use development.
▲ Earby-based coated fabrics specialist Uniroyal Global Limited (UGL) can continue to grow its export operation after securing an £8m finance deal provided by Independent Growth Finance.
▲ The Furniture Recycling Group has developed a new sanitation technique for mattresses which have been returned by customers during the satisfaction guarantee period. The Blackburn company says that the 73,000 new and lightly used mattresses which are sent to landfill each year can now be rejuvenated and sold again.
▲ Euxton-based Earle Group has secured seven-figure funding to support its ambitious growth plans. The funding, supplied by ABN Amro, will be used to stock new lines for the coming season to support planned growth through the merchants’ sector, as well as expansion into the south east of England.
▲ Longridge-based Butlers Farmhouse Cheeses returned from the International Cheese and Dairy Awards with 26 trophies for its blue, hard and soft varieties made from cow, sheep and goat milk. It was a record haul for the fourth-generation family firm, which won 19 awards at last year’s event.
▲ Blackburn Rovers has reappointed PM+M as its audit and tax adviser, extending a relationship which dates back more than a century. The Blackburn-based chartered accountancy practice will also carry on working with Venky’s London, the club’s parent company, and Blackburn Rovers Community Trust.
▲ Three Lancashire spas have topped their category in the national Good Spa Guide Awards. The Spa Hotel at Ribby Hall Village won Best Day Spa, The Woodland Spa in Burnley won the Best Hotel Spa, and Stanley House Hotel and Spa in Blackburn won Best Boutique Spa.
▲ Bamber Bridge-based Conlon Construction has won the Department for Education contract to demolish and rebuild Seven Stars Primary School in Leyland.
▲ Haldane Fisher, the UK-wide chain of timber and building merchants, has opened its new Morecambe branch following a £250,000 investment. The company’s Garstang branch has also undergone a comprehensive redevelopment, at a cost of £600,000.
▲ Business recovery specialist Begbies Traynor has reported growth in both revenues and profits that were ahead of expectations for the year ended 30 April 2023. Revenues grew from £110m to £121.8m, resulting in a pre-tax profit increase from £4m to £6m.
▲ Preston-based marketing agency Freshfield has been named as a supplier on Crown Commercial Service’s Communications Marketplace framework for the North West. It is the UK’s largest public sector procurement framework and allows organisations such as local authorities, NHS trusts, housing associations, schools, colleges and universities, to procure a wide range of PR and marketing communications services through approved agencies.
DOWN
▼ AIM-listed Science in Sport had its shares temporarily suspended after the company was unable to meet its auditing deadline for the year ended 31 December 2022. When the company did post its results, it showed a modest increase in revenues, up to £63.8m, but growing losses, from £5.2m in 2021 to £9.8m in 2022. Chairman John Clarke announced he would stand down once the company has found a replacement.
▼ Blackpool-based T. Print has been fined £40,000 and ordered to pay nearly £5,000 in costs after a self-employed delivery driver visiting the premises was hit by one of its forklift trucks, causing multiple leg fractures and a dislocated ankle. Following
the incident in March 2022, the 53-year-old spent a month in hospital and has not been able to work since.
▼ The North West’s construction market is facing a skills shortage as a result of rising insolvencies according to audit, tax and consulting service provider RSM UK. Its research has revealed 428 construction sector insolvencies in the region in 2023. Most of these were liquidations. The data also identified three large North West based administrations during 2023 with an aggregate turnover of £135m, placing pressure on the companies in their supply chains, not only from the cash flow hit of the bad debt, but also future cash flows as a customer.
Mark Colman Director
/leonard-curtis- business-solutions-group
EMBRACE CHANGE AND INNOVATION FOR SUCCESS
The UK business landscape has been significantly reshaped by the Covid-19 pandemic, leading to a notable increase in insolvency cases across many industries. Lockdowns, supply chain disruptions and reduced consumer spending have collectively created unprecedented challenges for businesses, prompting a surge in insolvency numbers.
Small and large enterprises alike have faced financial distress as they grapple with the economic fallout. Hospitality, construction, retail and travel have been particularly hard hit, with many businesses unable to sustain operations amid restrictions and reduced foot traffic. Remote work and digital services helped some companies adapt, but widespread uncertainty continues to impact the overall business environment.
As the economy recovers, the path to business sustainability remains complex. Companies must focus on agility, innovation and digital transformation to remain competitive in a changing marketplace. Moreover, stakeholders including financial institutions, regulatory bodies and government play a crucial role in supporting recovery efforts.
Addressing the rise in insolvencies requires a multifaceted approach. Transparent communication with creditors, responsible financial management and timely restructuring are vital components. Equally important is fostering an environment that encourages investment and entrepreneurship, promoting economic growth in the aftermath of the pandemic.
The increase in business insolvencies is a clear reflection of the challenges brought about by the Covid-19 pandemic. While the road to recovery may be challenging, businesses that embrace adaptability and innovation can position themselves for success in the evolving post pandemic landscape. Collaborative efforts from all stakeholders are essential to ensure a resilient and sustainable economic future.
Call us on 0330 0243 999 or visit
www.leonardcurtis.co.uk
LANCASHIREBUSINES SV
IEW.CO.UK
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BAROMETER
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