News-in-brief from around the county
Government considers financial support for JLR suppliers
The government is looking at ways to financially support the companies in Jaguar Land Rover's (JLR) supply chain, the BBC understands. JLR halted car production at the end of August after a cyber attack forced it to shut down its IT networks. Its factories remain suspended until next month at the earliest. Fears are growing that some suppliers, in particular the smaller firms who solely rely on JLR's business, could go bust without support. One idea being explored is the government buying the component parts the suppliers build, to keep them in business until JLR's production lines are up and running again.
https://www.bbc.co.uk/news/articles/c62nv0xx32go
Almost 450 jobs to go as Bodycare collapses
High Street beauty retailer Bodycare will close its remaining 56 stores, with 444 redundancies, administrators have confirmed. Administrators from Interpath said a shortage of stock and the rising cost of running stores had left the business unviable, leading to the full closure of its 115-store estate. This includes the stores in Nuneaton and Rugby.
https://www.thebusinessdesk.com/westmidlands/news/2102844-almost-450-jobs-to-go-as-bodycare-collapses
The Belfry tees off a new era with £85m makeover
An £85m redevelopment of The Belfry Hotel & Resort has officially opened following a two-year transformation. The project has doubled the size of the resort, adding Brabazon House with 149 new bedrooms, including balcony rooms overlooking the Brabazon golf course and the resort’s first two-bedroom suite. A 9,170 sq ft events space, The Masters Suite, can host up to 920 guests for conferences, weddings and banquets, and has already generated £10m of bookings before opening.
https://www.thebusinessdesk.com/westmidlands/news/2101912-the-belfry-tees-off-a-new-era-with-85m-makeover
Good University Guide 2026: Warwick tops Midlands’ rankings - full list
The Times and The Sunday Times have released its Good University Guide for 2026, where the best universities around the country have been named. For the first time in the guide's 32-year history the University of Oxford and University of Cambridge have dropped out of the top three in the national rankings and are now joint fourth. The Guide named The University of Warwick as the best in the Midlands for 2026, and it was also awarded Highly Commended for Russell Group University of the Year 2026.
https://www.insidermedia.com/news/midlands/times-and-sunday-times-good-university-guide-2026-warwick-tops-midlands-rankings-full-list
Custom Power partners with Volklec to support UK defence sector
Custom Power, a subsidiary of Redditch-based manufacturer Solid State Group, has joined forces with Warwickshire battery manufacturer Volklec to support the UK defence industry. The partnership aims to create a fully integrated capability, from cell development through to battery pack design, manufacture, delivery and support, tailored to meet the needs of defence Prime providers. Custom Power's battery management systems will be paired with Volklec's 21700 lithium-ion cell technology.
https://www.insidermedia.com/news/midlands/custom-power-partners-with-volklec-to-support-uk-defence-sector
Warwick’s Hofer Powertrain UK Reborn as Revotech UK
A new entity has taken over the operations of a business specialising in the production, design and development of advanced hybrid and electric powertrain systems for the automotive sector after its collapse into administration. The deal secures the firm's experienced engineering team and is hoped to create a "resilient UK business". The administration followed the restructuring proceedings of its former European parent company hofer AG and wider challenges facing the European automotive industry". RevoTech Systems Limited has officially launched following the signing of an asset deal with Stretton Investments.
https://www.insidermedia.com/news/midlands/future-of-advanced-engineering-firm-secured-after-transfer-of-ownership-out-of-administration-new-entity-hopes-to-build-resilient-uk-business
Further funding revealed for the West Midlands’ film and TV industry
Further funding has been announced to back the West Midlands' creative industries and support the development of new ideas for TV, film and online. The West Midlands IP Fund will open for a second round of applications later this month with grants of up to £20,000 available. Five TV series and three feature films have been commissioned after being developed by production companies in this region thanks to funding through Create Central and Creative UK.
https://www.insidermedia.com/news/midlands/further-funding-revealed-for-the-west-midlands-film-and-tv-industry
Turnover accelerates further past £1.3bn at Warwickshire car dealership giant but profits reverse
Turnover accelerated further past the £1.3bn mark at one of the largest privately-owned automotive groups in the UK during its latest financial year, according to new documents, but pre-tax profits reversed. Listers Group was formed in 1979 and sells a range of brands, including BMW, Honda, Jaguar, Land Rover, Audi, Lexus, Mini, Seat, Skoda, Smart, Toyota, Isuzu, Porsche and Volkswagen. The Stratford-upon-Avon-headquartered company has reported a turnover of £1.33bn for the year to 31 March 2025, up from £1.31bn in 2024.
https://www.insidermedia.com/news/midlands/turnover-accelerates-further-past-1.3bn-at-car-dealership-giant-but-profits-reverse
Headlam Group posts widening pre-tax losses but hails “good progress” on transformation plan
Coleshill Floor coverings distributor Headlam Group has reported widening pre-tax losses in its interim results but the listed company's chief executive said it has made "good progress" on its transformation plan. The company has posted pre-tax losses of £31.8m for the six months to 30
June 2025, compared with £19.7m in the first half of 2024. Revenues declined from £256.4m to £244.7m over the same period. In September 2024, the group announced a transformation plan aiming to simplify its customer offer, network and operations.
https://www.insidermedia.com/news/midlands/headlam-group-posts-widening-pre-tax-losses-but-hails-good-progress-on-transformation-plan
New ownership for care home located on a site dating back to the 19th century
A Rugby care home located on a site with a history dating back to the 19th century has been acquired by an expanding regional operator. Town Thorns Care Home in Easenhall is a recently refurbished care home that offers residential, dementia, nursing and respite care to up to 62 residents. It comprises a detached, part-three and part-four storey purpose-built property with 62 en suite bedrooms (all wet rooms), 29 independent living flats for people over 55 years and 12 bedsits on the upper floors. The home has been purchased by Capital Care Group, which now has nine care and nursing homes in the Midlands.
https://www.insidermedia.com/news/midlands/new-ownership-for-care-home-located-on-a-site-dating-back-to-the-19th-century
Aldi outlines record £1.6bn expansion plan as retailer reports sales of more £18bn in latest results
Atherstone based Aldi has revealed plans to invest a record £1.6bn over the next two years to accelerate its store expansion. This comes as the supermarket giant reports sales of more than £18bn for its latest financial year. The retailer with 1,060 stores, has previously announced plans to scale to 1,500 stores across the UK. It said its expansion will create thousands of jobs.
https://www.insidermedia.com/news/midlands/aldi-outlines-record-1.6bn-expansion-plan-as-retailer-reports-sales-of-more-18bn-in-latest-results
Barons Eden acquires Ardencote hotel in Warwickshire
The Ardencote hotel and spa in Warwickshire has been sold to Barons Eden, the owner of Hoar Cross Hall in Staffordshire and Eden Hall in Nottinghamshire. Ardencote resides in a Victorian manor house dating back to 1862 and features 110 ensuite bedrooms, an extensive wedding and conference space, three restaurants and bars and a spa and leisure club comprising an indoor and outdoor swimming pool, three tennis courts, two squash courts, nine treatment rooms and a gym. The property has been owned and managed by the Huckerby family since 1996 and is set within 83 acres of landscaped gardens, as well as an 18-hole golf course.
https://www.thecaterer.com/news/barons-eden-acquires-ardencote-hotel-in-warwickshire
Rigby Group marks 50 years with strong financial results
Rigby Group has reported strong financial results for the year ended 31 March 2025. As the business marks its 50th anniversary, it celebrates five decades of growth, reinvestment, and resilience. From its beginnings in 1975 with just a £2,000 investment, the Group has grown to revenues of £3.8 billion in FY25, up 3% on the prior year. Rigby Group’s EBITDA rose 36% to £95 million, supported in part by the sale of some businesses.
https://www.warwickshireworld.com/business/rigby-group-marks-50-years-with-strong-financial-results-5330608
Hiplok expands into new Leamington Spa HQ following record growth
British security brand Hiplok has moved into new, larger headquarters in Leamington Spa after reporting record growth, and products now sold in over 50 countries worldwide. The relocation supports Hiplok’s expansion into motorcycle security and reflects the brand’s continued global growth. Hiplok’s new home, The Old School on Court Street, is a restored Grade II listed Victorian building brought back to life as part of the Leamington Creative Quarter regeneration programme. The move provides expanded design and operational facilities, supporting Hiplok’s ongoing commitment to in-house product development in the UK.
https://www.warwickshireworld.com/business/hiplok-expands-into-new-leamington-spa-hq-following-record-growth-5324304
Construction Begins on Big Box Industrial Unit at Rugby’s Coton Park
Winvic Construction has commenced works on a new warehouse facility at Coton Park in Rugby, celebrating with an official groundbreaking ceremony. Winvic, a leading main contractor that specialises in the design and delivery of private and public sector construction and civil engineering projects, has started the 60-week build programme on behalf of Newlands Developments.
https://www.thebusinessdesk.com/westmidlands/news/2101979-contractor-overcomes-challenges-to-break-ground-at-250000-sq-ft-facility
Rugby Borough Council to use power to force lease of empty shops
Rugby is set to be one of the first towns in the country to be able to auction off leases on retail units which have lain empty for a year or more. Rugby Borough Council is planning to adopt powers available to it to auction off leases on privately-owned retail units left vacant in the town centre. The move comes after the council reported in June that nearly one in four units in the town were empty, compared to the national average of one in seven.
https://www.bbc.co.uk/news/articles/c4g9385p063o
Profits slide for Midlands’ biggest firms despite £183bn sales boom, says Insider’s Top 500
The Midlands’ 500 biggest companies have seen sales soar to £183.5bn – but profits are shrinking as rising costs squeeze margins - according to Insider's exclusive Top 500 ranking. The Top 500, ranks the Midlands' largest companies based on turnover and profitability. Heading the list, published in the latest edition of Midlands Business Insider, this year are automotive giant Jaguar Land Rover, Leicester-based fashion retailer Next, and Staffordshire’s yellow digger manufacturer JCB. According to the latest Companies House filings, the combined turnover of the region’s 500 corporate heavyweights reached £183.5bn, up nearly £7bn (+3.9 per cent) on the previous year. That growth was driven by both rising demand and improved output per worker. However, a closer look at profits paints a different picture. Despite stronger sales, pre-tax profits slipped by £126m (down 1.1 per cent) to £11.5bn. Average profitability remains slim at 6.2 per cent of turnover, with margins narrowing compared to the previous year.
https://www.insidermedia.com/news/midlands/profits-slide-for-midlands-biggest-firms-despite-183bn-sales-boom-says-insiders-top-500
Next president sought for the Coventry and Warwickshire Chamber of Commerce
Coventry and Warwickshire Chamber of Commerce is taking applications for a new president as Steve Harcourt, who is currently in the role, prepares to step down later this year.
https://www.warwickshireworld.com/business/chamber-starts-the-search-for-next-president-5328642