Here we look back on a remarkable year for business across the region. One that started in the midst of latest lockdown restrictions but which seemed to be on the up with vaccination roll-outs. As businesses were getting back to some level of normality, they took a fresh knock from the combination of worker shortages, supply chain issues, inflation and various other consequences of Covid and Brexit. Then Omicron hit……. This was how things looked in January and February.
Nottingham’s Island Quarter
In early January, new images of how Nottingham’s Island Quarter site could look were released.
The artist’s impressions showed how a high rise block on the 40-acre former Boots Island site between London Road and Manvers Street could look.
The redevelopment plans for the derelict site include a 223-room five star hotel, 247 residential apartments and offices.
There will also be a food and drinks area and a 300ft long forum for people to meet up and socialise.
Developers have called the latest phase of the plans – labelled as ‘1B’ – a ‘海角视频 first’.
Planning permission had already been granted for the first part of the huge mixed-use development , called Canal Turn, which includes a three-storey pavilion featuring two restaurants, events space and a rooftop terrace.
Next Plc
There was some good news in the gloomy retail sector as Next Plc announced better than expected Christmas 2020 revenues – but warned the sales boost would be “almost entirely” wiped out by the third English lockdown.
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As non-essential stores closed their doors in a late Government bid to try and slow the spread of a more transmissible strain of the virus – the Delta variant – the Leicestershire-based retailer said in the build up to last Christmas sales gained online compensated for almost all of those lost in its bricks and mortar stores.
It said full-price sales over the nine weeks to December 26 fell 1.1 per cent – better than the 8 per cent drop it had been braced for, despite tighter restrictions.
Shares in the business were up on the back of the news, suggesting the market’s confidence in its online department and ability to weather the current economic storm.
Next said profits were on track to hit £393 million before the latest lockdown announced on Monday, with lost sales in January set to cost it £18 million.
Lockdown bail-outs
Senior figures within the British Chambers of Commerce warned that the Government had to come up with clear guidance and a package of support to help businesses plan their way out of the “long, dark tunnel” ahead.
Chancellor Rishi Sunak announced a one-off grant of up to £9,000 to around 600,000 retail, hospitality and leisure sites on top of an extra £594 million to councils and devolved administrations.
Chambers director general Adam Marshall said while the immediate cash flow support was welcome, it would not be enough to save many firms.
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He said: "We need to see a clear support package for the whole of 2021, not just another incremental intervention."
Meanwhile, East Midlands Chamber chief executive Scott Knowles said sound guidance was needed to help the 海角视频 economy bounce back from one of the worst periods in its history.
It comes as Michael Gove said the latest lockdown restrictions could remain in place until March 2021 .
Triumph bikes
Triumph management said global sales got back to pre-Covid levels in the second half of 2020 after a big drop when the pandemic first took hold.
The British motorbike maker put out a trading update showing losses of £40 million in the year to June 2020 .
Following the update, Paul Stroud, Triumph’s chief commercial officer, told BusinessLive that the team at the Hinckley headquarters had been surprised at how quickly the global market had picked up in the second half of 2020.
He also said the business had completed a redundancy round announced during lockdown which had taken the global workforce from around 2,500 to 1,800.
And he said a tie-in with India’s biggest motorbike exporter Bajaj Group to create a range of cheaper bikes starting at around £2,000, was still on track.
Mr Stroud said: “The motorcycle industry is one of the industries that has bounced back since the initial lockdown across the world. Nobody could have foreseen that the motorcycle market would perform so strongly.
"There is not a market in the world where it has not bounced back. Yes, there has been some pent-up demand, but over and above that we have performed across the globe well ahead of the overall market.”
Topps Tiles
Topps Tiles sales were up prior to the latest lockdown, although the recovery in its commercial business was taking longer than hoped, it said.
The retailer – said to be the 海角视频’s leading tile specialist – closed all its aisles under the latest rules, but customers could still use its trade counters, online store and click & collect services.
Topps, which has its national headquarters next to Junction 21 of the M1 just outside Leicester, said general retail sales for the last three months of 2020 were up almost 20 per cent on the same period in 2019.
It said there had been good growth in sales across both its main customer groups – professional fitters and homeowners.
That compared to a 5.4 per cent year-on-year drop in sales for the 2020 financial year, which took in the first national lockdown.
Topps, which started trading in 1963, has 343 stores, four commercial showrooms and three trading websites.
Chief executive Rob Parker said: “I am encouraged by our performance over the first quarter with our retail business performing very strongly, with like-for-like sales up by 19.9 per cent, and our commercial business on track with our plans.”
Joules
Joules, the 海角视频 lifestyle brand, warned the new national lockdown could see it lose between £14 million and £18 million – if the 2021 restrictions continued until April 1.
The national clothes brand said the closure of its stores, the cancellation of country shows and disruption to wholesale partners such as John Lewis, would have a big impact on its figures this year.
But the business did say that new retail restrictions would be partially mitigated in the full financial year to 30 May, 2021 due to:
- better than expected sales and profits in past seven months
- continued strong momentum of its digital platforms, driven by growth in the number of "active" customers, the relevance of the product offer and recent investments in its distribution centre
- ongoing benefits from cost reduction activities, including head office costs and lease renegotiations
The business added that its strong balance sheet would enable it to "navigate the current climate and emerge in a strong position".
SureScreen Diagnostics
An East Midlands drug and alcohol screening specialist won a contract to supply 2 million rapid Covid-19 testing kits to the 海角视频 government – with the potential to supply millions more.
In 2020 the pharma company won a contract to provide tests to the Federal Medicines Agency in Belgium .
It had also sold its antigen tests to Health Passport Ireland – a programme to prompt economic stimulation in Ireland by combining the latest digital technologies with tests to offer Covid-free people proof of negative results, allowing people to move around easier.
Health and Social Care Secretary Matt Hancock said the 海角视频 deal has been validated by Public Health England for use in asymptomatic testing.
The health minister – prior to leaving the job after he was filmed fondling a colleague in breach of Covid rules – said: "It is excellent to be working with a 海角视频 firm to deliver millions of these rapid tests, which are being deployed across the country to help protect our communities and most vital public services.”
Derby County
Derby County was reported to be close to finalising a deal with new owners.
After months of delays, Sheikh Khaled bin Zayed Al Nehayan – the 61-year-old cousin of Manchester City owner Sheikh Mansour – was said to be on the cusp of buying the Championship club.
Derventio Holdings (海角视频) Limited, which lists Sheikh Khaled bin Zayed Al Nehayan as a “person with significant control”, looked set to sign a deal with current owner Mel Morris.
Mr Morris had been looking for new investment for the past two years.
He was expected to step aside if the deal goes through – but could stay on in a consultancy role.
In December, 2020, the club and Bin Zayed International issued a joint statement assuring supporters that the takeover is “on track” with a view to completion before Christmas.
A message from the club on Christmas Eve said the delay was nothing to be concerned about.
The deal never happened and the club went into administration.
Bombardier Transportation
A £4.9 billion deal to sell Derby-based train maker Bombardier Transportation to the French Alstom group went through.
The deal had seen the Litchurch Lane works, which employs 2,000, among the assets transferred to the new owner.
It was initially approved by EU regulators in July, 2020, and officially went through on Friday, January 29.
Alstom said the enlarged group had a combined revenue of around €15.7 billion (around £13.9 billion), and employs 75,000 people worldwide in 70 countries.
Unite the Union, which represents many employees at the works, said it was keen to find out more about the plans of the new owners.
In December 2020 hundreds of workers at the Litchurch Lane works were laid off.
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