Yorkshire manufacturers face biggest drop in confidence since lockdowns

According to new data from the West & North Yorkshire Chamber of Commerce, business optimism in Yorkshire’s manufacturing sector has fallen to its lowest point since the COVID-19 lockdowns.

The Chamber’s Quarterly Economic Survey for Q1 2025 highlights a significant decline in performance among manufacturers, with both domestic and international sales reported to be down. Many businesses are responding by implementing job cuts and recruitment freezes. Order books are at their weakest since 2020, and export activity has also seen a downturn.

In contrast, the region’s service sector has experienced a more positive quarter, with stronger domestic sales, increased investment intentions, and rising confidence in future profitability. The service sector’s performance has exceeded the national average in some areas.

Taxation continues to be the most pressing financial challenge for businesses, with the cost of labour also consistently identified as a major concern. The survey was conducted just before upcoming increases in National Insurance Contributions and the Minimum Wage and the threat of new US tariffs on global trade.

Leisure centre closures spark concerns over unpaid memberships

Two public leisure centres in Lincoln have shut down following the collapse of Active Nation, the charity responsible for their management. The centres affected are Yarborough and Birchwood, which were owned by the City of Lincoln Council. The charity attributed the closures to the ongoing utility crisis and the financial pressures it has created.

Active Nation confirmed the centres would remain closed indefinitely, with no alternative operators secured. The City of Lincoln Council, which owns the buildings, expressed disappointment and stated it was evaluating potential solutions. However, members with prepaid memberships have raised concerns, fearing they may lose their money due to the lack of receipts or assurances regarding refunds.

The City of Lincoln Council advised those affected to contact their bank or card provider for potential refunds. Meanwhile, the Lincoln 10K event, scheduled to take place on Sunday, will still proceed as planned from the Yarborough Leisure Centre despite its closure.

Active Nation, which also operated leisure facilities in Southampton and Aldershot, acknowledged the disappointment caused by the closures but noted the inability to find a new operator as a key factor in the decision.

Wise reports strong customer growth and £1.4bn income forecast

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Wise, the UK-based fintech known for international money transfers, has forecast solid growth for its current financial year, driven by a sharp increase in customer numbers and revenue.

The company expects a 21% rise in active customers, reaching 15 million globally, and projects underlying income to grow by 16% to £1.4 billion. However, it anticipates a one percentage point decline in profit margin.

Wise is targeting underlying income growth of 15–20% for the 2026 financial year, with pre-tax profit margins expected to hit the higher end of its guidance range.

In its most recent quarterly update, cross-border transaction volumes climbed 24% year-on-year to £37.8 billion, while card and other revenue surged 39% due to greater product adoption.

To protect shareholders from dilution, Wise plans to reduce the share purchases by its Employee Benefit Trust, addressing legacy stock-based compensation equivalent to roughly 25 million shares.

The company has also reaffirmed its reclassification under the FCA’s overhauled UK listing regime, officially shifting to the Equity Shares Category as of July 2024.

18th Century hotel to be sold in Skegness

The Vine Hotel, a guest house and event venue in Skegness, is to be sold. Dating back to 1770 and reported to be the oldest property in Skegness, The Vine Hotel comprises 25 ensuite bedrooms, a restaurant, two bars, and function spaces, set within 3 acres of lawned gardens and outside dining areas including five dining pods. The property also has planning permission for a further 20 letting bedrooms which could be created under new ownership. The Vine Hotel is known for its connection to poet Alfred Lord Tennyson, and is home to ‘Tennyson’s Tree’, where he is known to have written much of his work. The hotel was acquired by the current owners over 10 years ago, and has since undergone significant investment and development. Matt Hill, Senior Business Agent at Christie & Co who is managing the sale, said: “The Vine Hotel is a busy, successful and historic Hotel, Bar and Restaurant which we are proud to be marketing and would be an asset to any owner’s portfolio. “The opportunity also offers further potential as there is granted planning permission for 20 additional lettings bedrooms within the ground of around 3 acres.” The Vine Hotel is on the market with an asking price of £1,795,000.

Evri trials robot couriers to improve delivery efficiency

UK courier company Evri is set to trial a four-legged robot delivery assistant this summer. Developed by Swiss AI firm RIVR, the robot will work alongside couriers, hopping in and out of vans to assist with parcel deliveries. The trial assesses how automation can support couriers in physically demanding tasks while improving operational efficiency.

Evri is also testing a compact electric delivery robot in Barnsley, developed by Delivers AI. The small autonomous vehicle will operate from the Barnsley Business Innovation Centre, working with local couriers for a three-month trial. Residents on selected streets in Barnsley can opt-in via a dedicated website to receive deliveries from the robots, which can operate 24/7, enabling nighttime and on-demand services.

The company emphasised that automation will not replace human couriers but is being explored to enhance service speed, convenience, and accessibility.

APSS reveals new management structure to drive next phase of growth

Lincolnshire-based commercial design and fit out company, APSS, has appointed Richard Mycroft as its new Managing Director, marking the beginning of a new chapter for the business. Richard will lead the business with the support of Stuart Wall, Design Director, and Hannah Stockdale, Finance Director, as APSS continues to strengthen its position in the market. As part of this transition, Laurence Barrass assumes the role of Chairman, ensuring continuity and strategic guidance for the company’s future growth and development. Stuart Marsland will also continue as Sales Director. Richard Mycroft brings extensive experience within the construction industry and leadership expertise to his new role, having already played a key part in APSS’s success over the years. He first joined APSS in 2013 before becoming Operations Manager in 2021 and later progressing to Operations Director in 2022. Richard’s vast knowledge of the fit-out industry ensures smooth project delivery for customers, reinforcing APSS’s reputation for excellence. Stuart Wall, who has been with APSS for 12 years, started as a Lead Designer and was promoted to Design Director in 2022. His innovative approach and industry expertise have been instrumental in shaping the cutting-edge designs APSS is known for. His creative vision, combined with Richard’s operational expertise, ensures APSS continues to deliver high-quality, functional, and impressive interior solutions. Hannah Stockdale, who has been an integral part of APSS for the past seven years, plays a crucial role in the company’s financial strategy and stability. Together, Richard, Stuart, and Hannah form a strong leadership team, ensuring APSS thrives in the next phase of its growth. Richard said: “I am honoured to step into the role of Managing Director at such an important time for APSS. With the support of our talented team, we’ll continue to drive the company forward, delivering outstanding results for our customers while upholding the values that have made APSS a trusted name in the industry.” Laurence Barrass shared his thoughts on his new position as Chairman: “It is a privilege to take on this role and to support Richard and the leadership team in steering APSS towards a successful future. I have every confidence in Richard’s ability to lead the company, and I look forward to seeing the continued growth and development of the business.”

Helmsley Group sees significant office uptake in York

Helmsley Group has secured 42,000 sq ft of prime office lettings in York, marking a significant boost in the city’s office market. The property investment and development specialist said that demand for office space in York has seen a resurgence as businesses return to in person and hybrid working models. Recent lettings include co-working space business Patch opening its first York site in the Grade II-listed Bonding Warehouse, flexible workspace provider Wizu leasing 24,500 sq ft of East Coast House and NHS service provider Nimbuscare Ltd moving into Holgate Business Park’s Gateway 1. These successes follow York-based Helmsley Group’s recent planning approval for the transformation of the city’s Coney Street. The regeneration of this area will see the creation of Coney Street Riverside, bringing extensive public realm and 250,000 sq ft of mixed-use retail, leisure, commercial and residential space to the heart of York. Head of Asset Management at Helmsley Group, Alexia Swift-Cookson, said: “It’s been fantastic to see increased demand for office space in York and we’re proud to be providing national brands and organisations with offices in York. “In reaction to changing workplace models impacted by the pandemic, we look forward to continuing this momentum, bringing workers back into the city and reaping the benefits this will bring to local businesses and the city’s economy.” Head of Commercial Agency at Colenso Property, James Ratcliffe, added: “In today’s landscape, businesses are looking for a sense of community and reasons why employees will want to be in the office. “With developments like Coney Street Riverside on the horizon, we’re seeing more and more businesses looking to get back into the hub of the city and to be in and amongst York’s vibrant community.” Chair of the York and North Yorkshire Chamber Property and Economic Forum, Steve Secker said: “These deals demonstrate that York is a fantastic place for an office, feedback which is echoed by many of our members. “We commend Helmsley Group on securing these strong lettings and for its positive work across the city, including on its forthcoming Coney Street Riverside development. “There is a strong demand for high-quality office space in the city and this is backed up with progress on the York Central regeneration project, which will create more new office and commercial space.” Work is expected to begin on the first zone of Coney Street Riverside this summer, regenerating an underused area of the city to create a public realm of national and international standing.

Wykeland acquires landmark Grimsby site and announces new investment

Leading Hull-based commercial developer Wykeland Group has acquired a landmark site in Grimsby and announced new investment is on its way. Wykeland has purchased the former Ramsdens Superstore site from the Grimsby-based retail and cash and carry business Ramsden Group and, as the new owner, will take the lead in rejuvenating it. That has already begun with Wykeland announcing that, in a linked transaction, a deal has been agreed to sell part of the site to family-owned retailer Farmfoods, for the development of a new 15,000 sq ft store with car parking. The sale of just over an acre of land to Farmfoods is subject to full planning permission for the new frozen food and groceries store. A planning application has been submitted and, if approved, the store is expected to create up to 15-20 new jobs. Wykeland will retain the remaining 1.8 acres and explore opportunities to attract further investment and regeneration, while investing around £100,000 to improve the site, including structural repairs to a property fronting Cleethorpe Road. Wykeland has also renamed the development as Ramsden Park, in tribute to the site’s history as the place where the Ramsden Group business was founded, with the opening of the Ramsdens store in 1946. Ramsden Group and Wykeland have previously secured investment by coffee house chain Starbucks in a drive-thru and eat-in café on the corner of the site facing Cleethorpe Road and Park Street. The Starbucks facility has traded successfully for more than three years. Now, with Farmfoods also coming on board, Wykeland is exploring further opportunities to revitalise the site. Wykeland Development Director Jonathan Stubbs said: “We’re pleased to announce we have acquired the site from Ramsden Group and have also concluded a deal, subject to planning consent, to bring in new investment from one of the UK’s most popular food retailers. As well as supporting Farmfoods through the planning process, we’ll be investing in improvements on site and exploring further development opportunities. We’re committed to the regeneration of this important location on the main route between Grimsby and Cleethorpes and keen to hear from investors who would like to work with us to realise its potential.”

Aspire Furniture secures new 56,400 sq ft warehouse in Leeds

Aspire Furniture, the bespoke wholesaler specialising in beds, mattresses, and bedroom furniture, has signed a three-year lease on a 56,400 sq ft warehouse facility in Leeds. Owned and managed by commercial and industrial property specialist Towngate PLC, the new facility will significantly expand Aspire’s storage capacity and streamline its growing operations. The news comes just one year after the business secured a £500,000 trade loan from NatWest to extend its UK footprint overseas. Aspire has seen near-constant growth over the past decade, evolving from a small operation in a spare bedroom to a multi-channel business with a thriving e-commerce platform, an annual turnover of approximately £22 million, and more than 100 employees. Partnering with major retailers including Argos, NEXT, Very, Dunlem, Furniture Village, and Mattress Online, the company combines a large-scale design, manufacturing, and whitelabelling service with a curated off-the-shelf range via Aspire Store, catering to both industry giants and direct customers. The new, Towngate PLC-owned facility will play a central role in supporting Aspire’s sales, providing the infrastructure and resources needed to meet rising demand. Due to its proximity to Aspire’s manufacturing facility in Leeds, the site will also drive greater efficiencies throughout Aspire’s logistics and operations. Ben Dobson, operations director at Aspire Furniture Ltd, said: “We are thrilled to be moving to Copperworks 2. This milestone is a significant step forward for Aspire, enabling us to expand our operations and enhance our warehousing capacity to support the next stage of our growth – particularly in the e-commerce market, where we’re constantly innovating and investing to offer an even better experience in the online furniture market.” Tom Lamb, property director at Towngate PLC, added: “As one of the region’s most recognised industrial locations, our Copperworks site is proudly positioned within our specialist property portfolio. “The unit is located in the heart of Yorkshire’s motorway network, just minutes from Leeds City Centre and nearby railway links, and offers excellent connectivity to surrounding cities such as Bradford, Doncaster, Sheffield, Manchester, and Liverpool, making it an ideal base for thriving businesses like Aspire. “With ample storage, loading, and distribution facilities, the site is perfectly suited to support the company’s expanding stock levels and both direct-to-consumer and wholesale operations. We look forward to seeing Aspire’s continued success and supporting the UK team from this prime location.”

Gear4Music revises profit outlook as market pressures weigh on performance

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Gear4Music has lowered its profit expectations for the full year, citing tough market conditions and aggressive competitor discounting. The York-based musical instruments and equipment retailer now expects EBITDA of £10 million for the year ending 31 March, down from the previous forecast of £11.7 million. Profit before tax is projected at £1.6 million—below the £2.8 million market estimate but a notable rise from £0.6 million last year. Revenue is set to reach £146.7 million, falling short of the expected £154.7 million.

The company’s share price dropped 3.6% to 130p in early trading, a sharp decline from 200p six months ago and significantly below its pandemic peak of 1010p.

Executive chair Andrew Wass acknowledged the challenges of weak consumer confidence and price competition, particularly in early 2025. However, he noted improved UK and European sales in late March and suggested that competitive pressures may be easing as struggling retailers exit the market.

Gear4Music continues to invest in own-brand product development, second-hand sales, marketing, and e-commerce improvements. While economic uncertainty remains, the company expects to build on recent momentum and improve financial performance in the coming year.