Lowestoft store closure blamed on new road system
The closure of Godfreys Department Store in Lowestoft is being partly blamed on the area’s new road system which has deterred shoppers from the town centre. A statement confirming the closure - with the loss of a further 13 jobs on top of the 24 already announced - said: “Lowestoft as a town has suffered from the downturn and the company saw customers stopping coming into the town to shop like they used to. The changing road system in the town has also gradually put people off coming into the town centre and its once loyal customers started to shop at retail parks in out of town locations and online.” It added that since the recession began, Godfreys was severely hit by the changing shift in retail shopping habits and the retail economy in general.
Joint administrator Stuart Morton of Price Bailey, said : “While we continue to talk to a number of interested parties, stock levels in the store have dropped significantly and therefore regrettably we closed the store.... But we are still optimistic that parts of the store will reopen, depending on how our negotiations develop.”
Manufacturers set to lift output despite global concerns
Despite global concerns, a net 19 per cent of East of England manufacturers in an EEF survey expect output to increase in the coming three months. Although third quarter output hadn't quite matched firms'expectations in the region, a net 3 per cent still reported an increase in output. For 2016, the EEF says optimism about the wider UK economy’s growth prospects remains 'fairly stable' although manufacturers are feeling less upbeat about their own growth prospects. Richard Halstead, East and Midlands region director at EEF, said: “While UK data has continued to point to solid growth, manufacturers - including many from this region - are having to contend with a rollercoaster of risks from the rest of the world. Unfortunately, the white-knuckle ride is starting to take its toll.
Heavy job losses in North Sea energy sector
The sharp fall in the price of oil has cost almost 65,000 jobs in the North Sea oil & gas sector and firms are seeking to cut costs by sharing assets, according to a new report. But at an event to launch Oil & Gas UK’s Economic Report in Aberdeen, CEO Deirdre Michie said: "The challenging environment is forcing businesses to leave no stone unturned in their focus on efficiency improvements and competitiveness. And...these efforts are paying off. The market is also adapting, with companies combining – like Halliburton and Baker Hughes, Shell and BG Group, and Schlumberger and Cameron." Infrastructure was also being acquired by firms focused on the sector.
The East of England remains a major centre for the offshore UK wind sector and there have been recent major investments by firms involved in platform de-commissioning and in the Cygnus gas field which will be linked by pipe to Bacton in north Norfolk. According to the East of England Energy Zone, there are more than 6000 energy businesses in the region, with a combined turnover of nearly £13bn, employing more than 103,000.
Record turnover at law firm
Law firm Birketts has appointed eight new trainee solicitors after reporting a record turnover of over £34.5m for the last financial year. Jonathan Agar, chief executive officer, said: “As we continue to grow it is essential that we ensure our trainee intake provides us with talented and ambitious lawyers who will embrace our commitment in providing exceptional client service. The financial results cap a strong period of growth for the firm, with turnover almost doubling to £35m for 2014/15 over the past five years. With office moves planned for Cambridge in a matter of weeks and Ipswich in 2017, this year’s intake join us at a very exciting period in the firm’s history.”
The appointments across the firm’s Cambridge, Chelmsford, Ipswich and Norwich offices are Hannah Bayfield (property), Marion Bennett (property), Georgia Garvin (corporate), Jonathan Parker (private client), Georgia Robertson (corporate), Ben Saraci (corporate), Sarah Watters-Quilty (corporate) and Anna Willis (private client).
Changes at the top for regional accountants
Lovewell Blake has appointed a new senior partner and managing partner and is introducing a new logo and strapline, 'Different because you are', after a brand review at the regional accountants, business advisers and financial planners. Paul Briddon, currently a partner at the firm’s Lowestoft office will take over as senior partner next month following the retirement of current senior partner Russell Leggett. Colin Fish, replaces Douglas Young as managing partner, who is stepping down after six years in the role and 17 years on the firm’s management board. Douglas Young will continue to specialise on his agricultural client base whilst supporting Colin Fish. Paul Briddon is the firm’s lead partner for services to the legal profession who also has an interest in the energy sector and sits on the Norfolk and Suffolk Energy Alliance. He said the move better-reflects the firm’s commitment to providing clients with a wide range of professional services across all sectors. “Many people see us as accountants, but the truth is that we offer a huge range of professional services including business advice and financial planning. We wanted a strapline that not only reflected this breadth of service but also that better captured the way we do business – by putting our clients first and meeting their differing needs,” he said.
Photos: Paul Briddon (left) and Colin Fish.
Accountant shortlisted for national award
Ensors Chartered Accountants partner Fiona Hotston Moore (photo, right) has been shortlisted for the Practitioner of the Year Award – part of the British Accountancy Awards. As one of the country’s leading forensic accountants and tax writers, she had to demonstrate her prowess in four key areas: professionalism, measurable success, innovation and as a role model. Danny Clifford, managing partner at Ensors, said: “Fiona has excellent technical knowledge but what sets her apart is her ability to strike up a close relationship with the client enabling her to fully understand the needs of their business. This sort of close involvement means that the technical knowledge can be used to provide proactive, relevant and timely advice.” The awards ceremony is in London on 24 November.
Separately, Ensors has recruited 13 new staff to study for accountancy exams. Six of the new students are at Ipswich and five Cambridge, with one each at Bury and Huntingdon. Two of the students are studying for the ICAEW, six for the ACCA and five for the AAT. Ensors has places for two more students, one in Ipswich and one in Huntingdon. www.ensors.co.uk.
Law firm appoints new corporate partner
Ashton KCJ has recruited corporate partner James Tarling to join its corporate and commercial team in Norwich as a partner. He specialises in corporate finance transactions and advising innovative technology companies and was previously a senior director role in another Norwich firm where he worked for 16 years. He has wide experience in leading corporate deals and guiding businesses through complex IP, data protection and privacy issues. He also has experience working in the motorsport industry and set up an international jv to develop and exploit new technologies for use in F1 cars. James Tarling said: “It is fantastic to have joined a firm with such a great reputation and to be working with such a dynamic and progressive team of lawyers."
Briefly...
A record number of passengers on each flight at Stansted in August meant the airport topped the two million passenger mark for the fourth month running. The average load factor hit an all-time high of 93.5% in August as over 2.2 million passed through the terminal, an increase of 9.7per cent on the month last year and the busiest August at Stansted since 2008.
Felixstowe-based Pier has been selected as the PR agency for ScottishPower Renewables’ East Anglia ONE, the biggest offshore wind farm to be developed in the UK, following a four-way pitch.
Law firm Mills & Reeve has recruited partner Peter Seaborn, formerly head of the planning team at Eversheds’ Cambridge office, to its planning team. He has worked on various high profile projects during his career, including the 2012 Olympic Games and has worked with landowners, developers, promoters, public sector bodies and consortia. Beverley Firth, planning partner at Mills & Reeve, said: “He has a great reputation and real expertise in complex planning matters that will further strengthen our offering. ” Mills & Reeve was named planning law firm of the year at the Planning Awards for its work on the Rugby Radio Station project.
The North Norfolk Food and Drink Festival at Holkham Hall last weekend included a business mentoring programme which the organisers say is the only one in the country at a food festival. Norfolk-based Kettle Foods provided a troubleshooting and mentoring scheme to local business, Bread Source.
