Birmingham's Nitenite windowless hotel up for sale

A buyer is being sought for Birmingham's Nitenite hotel - known for its eye-catching windowless concept - after the company entered administration.

The 104-room hotel was placed into the hands of administrators from Zolfo Cooper this week, who believe they will be able to sell it successfully as a going concern. The company's 10-strong staff has been retained.

Zolfo Cooper partner, Ryan Grant, said cashflow di... Continue Reading

Government mulling over new pre-pack administration rules

A new draft regulation that could make the controversial pre-packaged administrations tougher to push through is to be unveiled by the Government.

A pre-pack administration is when a business falls into administration and is then sold on quickly to new owners with reduced liabilities - who have been selected beforehand.

The Department of Business, Innovation and Skills (BIS) is proposing the rolling out of a new rule t... Continue Reading

M&A cultural integration gaining more prominence

Only a quarter of companies making mergers and acquisitions (M&A) in the UK take account of organisational culture differences when devising their integration plans, according to new research.

Global consultancy firm, Mercer, surveyed some of the world's leading HR executives in a series of workshops. Just 25 per cent said that their companies had provisions in place to deal with the integration and management of business cultu... Continue Reading

Loch-side hotel offers lucrative business potential

An award-winning Scottish country house hotel has been put on the market for those looking to take on a business in one of the remotest parts of Scotland.

Kilcamb Lodge is located on the shores of Loch Sunart, on the isolated but spectacular Ardnamurchan Peninsula, and often attracts visitors who are on their way to the islands of Mull and Skye.

The lodge is minutes away from the village of Strontian, and eight miles f... Continue Reading

Paddle steamer purchase opportunity

A historic steamer that used to ferry people along the River Clyde in Scotland is to be sold at auction later this month, with the potential to be turned into a lucrative leisure attraction.

The Queen Mary, which first set sail in 1933, is to be sold later this month, although a guide price has yet to be set. The boat has been sitting in a dock at Tilbury, Essex since the early 1980s but Richard Lane, from Isle of Wight-based Capita... Continue Reading

Bidders lined up for Fulham Town Hall

Fulham Town Hall will be bought by one of eleven official bidders, with a decision made by Christmas on who will take on the historic hall.

The property was listed for sale by Hammersmith and Fulham Council in May as part of its attempts to reduce its £133 million debt. Since the sale was announced, developers have been clamouring to put forward their proposals for the site, which have included hotel, retail and housing plans.
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SMEs find falling demand creates greatest distress

The business owners behind Britain’s small and medium-sized enterprises (SMEs) have said that their biggest cause of business distress is a downturn in demand for their wares.

In a survey carried out by commercial debt recovery solicitors, Lovetts, business owners across the UK were asked to rate different economic factors according to how important they were for their businesses. The primary issue was found to be falling demand, f... Continue Reading

New owner sought for troubled care home

A care home that is in urgent need of a new, experienced ownership team has been put up for sale by Kent County Council.

The Sea View Lodge in Herne Bay had its official registration cancelled by Magistrates in Canterbury in June, after the Care Quality Commission (CQC) sought "to protect people at Sea View Lodge", after reports of failing standards of care... Continue Reading

Cheltenham lodge sparks flurry of potential business bids

A number of interested parties have already expressed their interest in a landmark Cheltenham building that has been put up for sale, with the current highest bidder seeking to transform it into a high-end restaurant.

Montpellier Lodge - a former park-keeper's residence - is being put up for sale by Cheltenham Borough Council, after the council cabinet gave the go-ahead for the sale on Tuesday. Speaking at the meeting of the co... Continue Reading

Stunning Scilly Isles hotel opportunity up for sale

A successful hotel on the sunny Isles of Scilly has been put up for sale by its owner, who plans to exit the business on retirement.

The St Martin’s on the Isle Hotel is a 30-bedroom establishment, with a leasehold until 2107 and a guide price of £2.5 million. Trading figures from last year show that - during its seven-month open period between March and October - it generated sales of £1.467 million, with EBITDA of £283,000.Continue Reading

Lord to hold grandest car boot sale of the year

Lord Viscount Cowdray is planning to hold what has been dubbed as “the grandest car boot sale of the year” in September, it has been reported.

The news comes after he recently sold his painting, A Portrait of Miss Read, for the record amount of £6.5 million. This week, Lord Cowdray invited a Daily Mail journalist to look around his home, where he is already gathering together other items to sell off. The items are expected to fe... Continue Reading

Increased small company failures on the horizon

Nearly one in ten small- and medium-sized enterprises fear that they could go out of business within the next few months if trading conditions do not get better, according to a new report. The news represents increasing opportunities for business buyers to snap up distressed business deals.

The latest publication of the SME Pulse report, compiled every six months by insurance firm Aviva, showed that nine per cent of the businesses su... Continue Reading

Internet retail success sparks surge in new start-ups

Online retail businesses have soared since the official end of the recession, with more that 3,500 online start ups achieving sales of more than £100,000.

Figures put together by original internet auction site, eBay, show that more than 24,000 new businesses registered on eBay UK last year, marking a 38 per cent rise in registrations than the year before. The figures marked an even more stark contrast with the figures from 2007 when... Continue Reading

Small business energy price comparison tool launched

An energy price comparison tool specifically for small businesses has been launched.

uSwitchforbusiness, an independent business energy broker, revealed the service this week. It is the first of its kind for small businesses and aims to offer a similar level of price transparency as currently enjoyed by consumers.

It functions in a similar way to household comparison sites. Users enter their information, including their ... Continue Reading

Small business mentoring scheme launched

Small businesses look set to benefit from the launch of a mentoring scheme, launched by the UK’s leading high street banks.

HSBC, Lloyds Banking Group, Barclays, Royal Bank of Scotland and Santander are all taking part in scheme, which is specifically designed to help small businesses with finance issues. The Business Finance Taskforce established the idea last summer in a bid to provide firms with more support on marketing and HR,... Continue Reading