Major marketing investment for Yorkshire bakery brand
York Central appoints social impact consultant
Regional leaders back Bradford-boosting plans
Lowell Group considers sale of Nordic debt collection operations
Lowell Group, a debt collection company based in Leeds, is reportedly considering selling its Nordic business operations span Denmark, Finland, Norway, and Sweden. The potential sale, valued at up to €730 million (£610 million), is still in the early stages, and the final price may be lower.
Barclays is managing the auction process, and Lowell’s Nordic division was acquired from Intrum in 2018. The division includes balance sheet portfolios valued at €475 million (£400 million) and a third-party debt-servicing business.
Owned by private equity firm Permira and Canada’s OTPP pension fund, Lowell Group serves around 15 million customers across Europe. In its most recent financial year, the company reported cash earnings before interest, tax, depreciation, and amortisation of £774 million.
Tech company scales up with Finance Yorkshire investment
Khalbros and Torsion to drive £1bn Leeds city regeneration project
Khalbros and Torsion Group have joined forces in a venture to redevelop the Eastgate Quarter in Leeds, a £1bn mixed-use regeneration initiative. The acquisition of the site signals a shift from its previous retail-focused vision to a comprehensive residential and commercial hub, set to redefine a key area of the city.
Located adjacent to Victoria Gate, the Eastgate Quarter development will feature a variety of housing options, including student accommodation and build-to-rent properties. It will also incorporate office spaces, leisure facilities, and lifestyle amenities, creating a fully integrated community designed for modern urban living.
The project is expected to be a driving force in Leeds’s future growth, contributing to the city’s evolution with new homes, jobs, and commercial spaces. The development aligns with the city’s broader ambition for sustainable and inclusive growth, with a focus on supporting local businesses and employing Leeds-based firms in the process.
Parseq expands secure print capacity with new Rotherham facility
Parseq, a major UK managed service provider, has launched a new secure print facility in Rotherham, South Yorkshire, in response to increasing demand from both domestic and international clients. The company has invested nearly £500,000 in advanced secure print technology and equipment, with plans to employ up to 20 staff at full capacity.
This new site marks Parseq’s third UK-based secure print operation, reinforcing its position as a global leader in producing secure, fraud-proof print products. The company already prints over 50% of the UK’s cheque volume and provides secure printing services for financial institutions, educational certificates, election ballots, and gift vouchers.
With an emphasis on fraud prevention, Parseq’s secure documents incorporate multiple layers of encryption and other security features. As demand for outsourced print services grows, Parseq aims to offer greater capacity and continuity for its increasing global customer base, especially as businesses look to reduce costs and focus on core operations.
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
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.
