Electric Business

The assets of Malvern, the parent company of LateRooms, has been picked up from administration by luxury hotel and holiday discount e-tailer Secret Escapes. The deal includes LateRooms’ intellectual property rights, business information and social media accounts.

HMV has announced that it is to open Europe’s biggest entertainment store at Birmingham's Bullring. Called HMV Vault, it will stock 80,000 CDs and 25,000 records and host bands, DJs and screenings in a basement function room. HMV was saved from administration by Canadian businessman Doug Putman in February. Under his ownership, HMV has since reopened 14 of the 28 stores that closed and Putman has pledged to invest at least £10m into reviving the chain, saying he wants to make his shops part of local communities, work with charities and, pointedly, “pay our tax”. The downsizing of HMV’s

The private equity buyer Kerry Hill has acquired door manufacturer Noberne Doors. Established in 1975, Noberne specialises in manufacturing security, fire, acoustic, x-ray and external doors.

Michael McNeill and his team have led a management buyout of World Recruitment Solutions for an undisclosed sum. The business will rebrand as We Build Recruitment (WBR) and push to grow its contractor numbers to more than 400. The firm is a specialist recruitment agency providing both blue-collar and white-collar contractors to the construction market on temporary and permanent placements. It is a top five construction recruitment company in the North West by contractor numbers.

Franchise Brands has moved to strengthen its Metro Rod business with the acquisition of WPL Group. The deal, worth up to £12.5m, includes WPL-owned firms Willow Pumps and Willow Drainage. Metro Rod specialises in drain clearance and repair.

Tesco has bought the assets and operations of Best Food Logistics for a nominal fee. The deal is designed to build on the successful merger with Booker that took place in 2018. Best Food distributes food to customers including Pret a Manger, KFC and Burger King.

Up to 2,500 jobs have been saved following the announcement that Hays Travel is to buy Thomas Cook’s entire portfolio of 555 shops. Hays is aiming to reopen all shops as soon as possible and all Thomas Cook employees who were made redundant will be offered their old jobs back. In addition, over 100 new jobs will be created at Hays’ head office in Sunderland. Thomas Cook ceased trading in September 2019 after failing to obtain £200m of extra funding.

The jewellery retailer Links of London has gone into administration. The 29-year-old business employs 350 people and operates from 28 stores and seven concessions across the UK. The business continues to trade while the administrators look for a buyer.

Waste management business Red Industries has bolstered its market position with the takeover of West Bromwich-based competitor Haz Environmental. Established as hazardous waste specialist in 2006, Red Industries has grown to become one of the UK’s leading independent waste management businesses, with Haz being its second acquisition in 12 months and third in two years. Red bought Environmental Resource Group in 2018 and Walleys Landfill in 2016.

Dr. Oetker has acquired baking business Cake Craft World. Dr. Oetker’s UK MDs’ expressed enthusiasm for investing in a successful, specialist baking business with a relevant online presence for hobby and semi-professional bakers. Dr. Oetker completed the acquisition of french baked goods and desserts brand Alsa from Unilever Group in March this year.