Despite revealing a rise in annual turnover of almost 24 per cent, pub owner Foundation Inns is planning to sell two of its six pubs.
The company, which was set up in 2007, reported a turnover of £2.6 million for the year to 27 March 2010, while it made a pre-tax loss of almost £540,000, down from £1.75 million in the previous year.
However, these losses were recorded during a period when some of the firm's pubs... Continue Reading
New figures have revealed that the number of insolvencies in the pub industry fell in the second quarter of 2010.
The research, released by insolvency firm Baker Tilly Restructuring and Recovery, show that just 115 pubs were declared insolvent during the second three months of the year, compared to 124 in the first quarter.
As fewer pubs are collapsing, production rates look more likely to remain consistent – news tha... Continue Reading
A successful independent dog grooming business in the beautiful, rural surroundings of North Ayrshire, Scotland, has been put onto the market.
The well-known company, which has been in operation for more than 20 years, has a substantial and long established clientele of pampered pooches.
Situated in the convenient premises of a busy town centre veterinary practice, the dog grooming business can also offer the benefit of... Continue Reading
The popular Birmingham-based pub group, Penn Street Taverns, has announced plans to sell four of its freehold pubs across the West Midlands.
The chain has taken on agent, Christie + Co, to deal with the sales. The pubs it is intending to off-load are the Hampton in Hockley, the Midland and the Beau Brummie, as well as the Bush pub in Wednesday.
The chain has gained a reputation for its premises in the Midlands, operati... Continue Reading
A former Odeon cinema building in Edinburgh is to be put onto the market for a three-month period at the end of this summer.
Developer Duddingston House Properties, (DHP) which owns the building, has been prevented from demolishing it to build a hotel by its current 'listed' status, so has decided to give another developer the chance to find an alternative use for it.
While they have full planning permission ... Continue Reading
Former Wall Street stockbroker Kenny Huang has set a 10-day deadline on behalf of an unnamed group, for Liverpool FC to accept their takeover bid.
Mr Huang opened talks with the football club's primary lender, the Royal Bank of Scotland, last weekend. There is speculation that the group he is working on behalf of is the China Investment Corporation. The talks have already included discussions with the club's non-executive c... Continue Reading
Hospitality industry observers are noticing a growing number of people snapping up bargain pub businesses in the north-east of England.
Stephen Taylor, managing director at specialist pub estate agent, Guy Simmonds, said he believes the noticeable increase in buyer interest from the south of the country stems from the excellent value for money to be found, as well as increasing the desirability of areas including Newcastle and the N... Continue Reading
Retirement plans for millions of small business owners could be ruined following news that the government has proposed capping pension contributions in the year they retire.
If the proposals go ahead, annual contributions will be capped at between £30,000 and £45,000 a year, as opposed to the current £255,000. However, plans to restrict tax relief for the very highest earners, suggested by the previous government, would also be s... Continue Reading
A new initiative has been launched to get banks and financial institutions lending to small businesses again.
As a result of organisations pointing out that finding finance for small firms was 'vital to reinvigorating the economy,' business secretary Vince Cable and chancellor George Osborne have launched the 'Financing a Private Sector Recovery' paper, in a bid to get lending moving and to encourage investment. ... Continue Reading
Dalziel Park and Conference Centre in Motherwell has entered administration due to its failure to satisfy creditors.
The hotel and conference centre has four conference suites, as well as wedding facilities and a golf course. It is currently owned by Mario Rea and is a popular venue for weddings in the area.
It is now in the hands of KPMG, who have confirmed that Dalziel Park will operate under their control whilst a buy... Continue Reading
Glynn Barton, a leading holiday cottage business near Bodmin in Cornwall, has come to the market for offers in excess of £2,500,000 through Chesterton Humberts.
The business, which specialises in holidays for families with young children, is set in a beautiful elevated position with panoramic valley views, equidistant between the south and north Cornish coastlines. It was named ‘Best for small children' in The Times newspape... Continue Reading
George Osborne has commissioned a new project aimed at simplifying or scrapping the complex tax laws faced by small businesses.
He has enlisted top accountants Michael Jack and John Whiting to spearhead the Office for Tax Simplification (OTS), and charged them to produce a report by the autumn detailing the reliefs, exemptions and allowances that could be streamlined.
A second report will be produced before the next Bu... Continue Reading
A buyer is being sought for one of the most celebrated pub restaurants in Newmarket after the long-term landlady decided to call it a day.
The Star at Lidgate has attracted a clientele that has included Prince Harry, Lord Lloyd Webber and many famous faces in the horseracing industry, but Maria Teresa "Tere" Axon is calling time on her tenure at the establishment.
Mrs Axon's husband, Tony, said their first priorit... Continue Reading
Small and medium-sized business in the UK is improving, according to new results published in The Chartered Institute of Marketing’s (CIM) Marketing Trends Survey 2010.
The annual report, which is conducted by research giant Ipsos MORI on behalf of the Institute, found that small and medium-sized businesses in the UK are the most optimistic about business growth over the coming year. More than half of respondents were convinced tha... Continue Reading
Project New Bank, which is being set up by City grandees Lord Levene and Sir David Walker, aims to put high street bank managers back at the heart of lending decisions.
Poised to launch soon, the bank will give local branches the power to make their own decisions on lending to small business and individual borrowers. By making decisions at a local level, it will be able to keep risks low, confining any failures rather than feeling t... Continue Reading
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