Finance

Bristol Business Blog: Louise Somerset, partner, Smith & Williamson. What next for family businesses after Covid-19?

June 30, 2020
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Bristol Business Blog: Louise Somerset, partner, Smith & Williamson. What next for family businesses after Covid-19?

Louise Somerset, partner and head of private client tax services at Smith & Williamson in Bristol, looks at the issues facing business-owning families post-coronavirus. Family-owned and managed businesses will have been put under enormous strain since the start of the Covid-19 pandemic, and unfortunately many may not be able to...

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The Mall at Cribbs Causeway co-owner collapses into administration with £4.5bn debt burden

June 26, 2020
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The Mall at Cribbs Causeway co-owner collapses into administration with £4.5bn debt burden

A minority stake in Bristol’s largest shopping centre, the Mall at Cribbs Causeway, is set to be out up for sale after its troubled co-owner Intu called in administrators this afternoon. Intu, which also owns some of the UK’s largest retail schemes, including Lakeside in Essex and the Trafford...

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£70m deal on prime Bristol office scheme two years ahead of opening shows strength of market

June 26, 2020
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£70m deal on prime Bristol office scheme two years ahead of opening shows strength of market

Cubex, the Bristol-based property developer behind the Finzels Reach regeneration, has completed one of the city’s largest investment deals with Tesco Pension Investment paying nearly £70m to forward fund its Grade A Halo office building. Construction of the cutting-edge 116,000 sq ft scheme, pictured, on the site of the...

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Electric vehicle app Zap-Map powers ahead after Good Energy increases its stake

June 25, 2020
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Electric vehicle app Zap-Map powers ahead after Good Energy increases its stake

Clean energy group Good Energy has taken effective control of Bristol-based Zap-Map, the popular app for the UK’s 300,000-strong electric vehicle (EV) drivers in which it bought a minority stake last year. Good Energy snapped up a 12.9% share in Zap-Map’s parent company Next Green Car in March last...

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Finance hub launched to connect borrowers, lenders and investors – without the hard sell or jargon

June 25, 2020
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Finance hub launched to connect borrowers, lenders and investors – without the hard sell or jargon

An online service promising impartial financial advice for Bristol firms on funding options has been launched by Business West, the region’s largest business organisation. According to Business West, which runs Bristol Chamber of Commerce, its Finance Hub will be free from confusing jargon or any hard sell, enabling businesses...

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Welcome for lockdown easing from business leaders – but they warn it alone will not save all firms

June 23, 2020
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Welcome for lockdown easing from business leaders – but they warn it alone will not save all firms

Business groups have cautiously backed the reduction of many coronavirus lockdown restrictions announced earlier this week by the Prime Minister. But they also warned that other measures to boost the economy were still needed to avoid widespread business failures and job losses.  In a major boost to the West...

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Government Covid-19 emergecy measures keep insolvencies low – but fears grow they will rise later

June 23, 2020
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Government Covid-19 emergecy measures keep insolvencies low – but fears grow they will rise later

A surprise fall in the number of corporate insolvencies could herald the ‘calm before the storm’, the South West branch of insolvency and restructuring trade body R3 has warned. Figures published by the Insolvency Service show a 30% drop in companies going bust at the height of the coronavirus...

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Business loan allows popular deli to bounce back from lockdown

June 23, 2020
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Business loan allows popular deli to bounce back from lockdown

Award-winning Bristol caterer, delicatessen and cookery school Papadeli has re-opened its doors with the support of a government-backed Bounce Back Loan secured from Barclays. The £50,000 loan will support the firm’s 14 staff, who have been furloughed during the lockdown and cover day-to-day costs as well as enable the...

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ICON’s new San Francisco office to open up US merger & acquisition market to Bristol firms

June 23, 2020
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ICON’s new San Francisco office to open up US merger & acquisition market to Bristol firms

Bristol-based technology-focused investment bank ICON Corporate Finance has opened an office in San Francisco to capitalise on merger & acquisition and investment opportunities between the UK and US. ICON acts exclusively for innovative tech companies across the globe, securing funding and realising maximum value when they come to sell. ...

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Tributes paid to Ultimate Finance founder Richard Pepler

June 19, 2020
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Tributes paid to Ultimate Finance founder Richard Pepler

Tributes have been paid to entrepreneur Richard Pepler, the founder of three Bristol-based asset finance firms, who died earlier this month. Richard, pictured, was well-known and respected in the financial services sector having set up Bibby Factors, Ultimate Finance and, latterly, Optimum Finance.  Born in Newent, Gloucestershire, in 1960...

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Job losses, cash-strapped firms and furloughed staff. Grim picture of pandemic’s toll on West of England

June 19, 2020
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Job losses, cash-strapped firms and furloughed staff. Grim picture of pandemic’s toll on West of England

Unemployment has soared by 145% in the West of England since the start of the coronavirus pandemic, according to figures published today, with just nearly 40,000 people claiming jobless benefits. At the same time, around 22% of the region’s workforce – 132,600 people – have been furloughed while job...

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Merger with Wiltshire government supplier opens up new horizons for Bristol managed IT firm

June 18, 2020
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Merger with Wiltshire government supplier opens up new horizons for Bristol managed IT firm

Managed IT services firm Bristol IT Company has merged with a Wiltshire-based tech business as both benefit from increased demand linked to home working during the lockdown. Bristol IT Company provides IT services such as IT support, cybersecurity and connectivity to the private small and medium-sized business market with...

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Bristol city centre shops and bars at risk of collapse with mass job losses, BID warns

June 18, 2020
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Bristol city centre shops and bars at risk of collapse with mass job losses, BID warns

More support must be given to protect Bristol’s retail, hospitality and leisure businesses, the city centre Business Improvement District (BID) has said amid a growing threat to jobs in these sectors. The BID fears the government’s furlough scheme is concealing the true picture of unemployment while many city centre...

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