Northern Echo cuts
NEWSQUEST North-East, publisher of the Northern Echo, has announced proposed redundancies and district office closures as a result of the economic downturn. Staff have been told up to 17 editorial posts are at risk and more redundancies are planned in the advertising department.
District offices are to close in Redcar, Stockton, Barnard Castle, Richmond and Thirsk. The company has already announced a pay freeze, which will be reviewed in April.
Woolworths talks
EMERGENCY talks to save Woolworths from administration were expected to continue today as a revised rescue deal was drawn up, it was reported. Hilco, the restructuring specialist said to be interested in buying the retailers’ 800-store business arm for a nominal £1, is thought to have sweetened its offer by saying it would assume a greater share of Woolworths’ debt.
Reports have said Hilco tabled a last-ditch offer at the weekend to take on up to £300m of the group’s debts, leaving lenders with just £85m.
Bio summit
BIO-INDUSTRY leaders will gather to discuss the latest advances in the sector at the second international ICIS Bioresources Summit today.
Technological breakthroughs in areas such as fibres, plastics and other emerging markets will be discussed during the two-day conference at Hardwick Hall. ICIS is the news service for the global chemical industry. Event organisers, the North-east Process Industry Cluster (NEPIC) Northeast Biofuels and ABB have collaborated for the event, which will include leading executives from across Europe.
The industry has made headline news in recent months, amid claims the growing biofuels sector is partly to blame for rises in world food prices. The latest thinking in raw materials, market analysis and the influence of political thinking on business decisions will also be on the agenda.
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