This week’s East Midlands News: Our top 10 stories revealed
As we hurtle towards the Christmas break there’s no sign of the pace in this most tumultuous of years slowing down. The past seven days have been a perfect example, with more woes at Sports Direct dominating the headlines once again.
However, it was the news that an historic Melton Mowbray firm had entered the administration owing nearly £4m which took our most-popular story crown this week.
FRP Advisory were appointed administrators of Hodgson & Hodgson Group in late October, putting 200 jobs at risk. New documents filed by administrators show that the firm entered administration owing £3.84m to unsecured creditors – but that only £1.7m has been recouped to pay them back.
In second place this week was a happier story: a Derbyshire-based haulage company has started its £1m expansion programme, with a £160,000 investment in new vehicles.
D&D Transport, based at Langley Mill, is a family-run business with more than 25 years’ experience in the haulage trade.
Delivering professional transport services across the UK and Europe, the firm has been required to expand its fleet due to significant growth.
As part of the investment programme, the firm has recruited an additional six staff and will be hiring another four in 2017. The team will also be moving in January to a larger site just down the road from its current premises, to enable future expansion and development.
Taking bronze this week is the tale that a US bank that backed Sports Direct had resigned as adviser to the Shirebrook-based firm in 2012 over irregular share deals.
Bank of America Merrill Lynch has quit over concerns that Sports Direct has manipulated its share price, according to reports. The Bank had concerns around Sports Direct’s corporate governance and the “propriety” of its share transactions in 2012 concerning its employee bonus scheme, according to claims made in a high court document by Jeff Blue – previously a close Mike Ashley ally.
Things might be quieter next week, but don’t count on it…
This week’s top 10 stories:
1. Historic Melton Mowbray firm entered administration owing £4m
2. £1m expansion for Derbyshire haulage firm
3. New scandal brewing at Sports Direct over share allegations
4. 350 apartment scheme in Nottingham moves step closer
5. Paragon targets £100m turnover
6. Pub and dining group goes for growth with £10m deal
7. ‘Downright dirty’ bar and restaurant to open in Nottingham
8. Midlands Engine boss is in hurry to find Peace for our time
9. Nottingham digital health company sold to US rival
10. East Midlands busiest railway stations revealed in new figures
