Business news in brief - 23/05/12

Scotgold | Wyvis Roofing | Lees Foods | Flying Brands | Glasshouse Hospitality

Scotgold secures Crown lease

Mining firm Scotgold Resources moved a step closer to creating Scotland’s only commercial gold mine yesterday when it was granted a Crown lease for its site at Cononish near Tyndrum.

The company said it continues to work closely with planning authorities to satisfy outstanding conditions, including decommissioning and restoration plans. It expects to meet these conditions within the next four months.

Subject to securing about £22 million in finance, the firm hopes to start producing gold at Cononish by the end of 2013.

Roofing firm move saves 30 jobs

Wyvis Roofing, the remaining part of collapsed Inverness building group UBC, was sold yesterday to its management team, saving 30 jobs.

Staff from accountancy firm Zolfo Cooper were appointed as administrators of UBC on 8 May after the family-owned firm blamed its collapse on customers not paying their bills.

Some 240 staff were made redundant on 11 May when UBC Group, Wyvis Building Services and Mardon Project Services ceased trading.

Wyvis Roofing managing director Willie Sharp said it was “business as usual” for the firm.

Shareholders back Lees management plan

Managers of Scottish confectionery maker Lees Foods yesterday cleared the main hurdle to their proposed takeover of the firm as shareholders voted to accept the deal.

Some shareholders had been actively campaigning against the management buy-out on the grounds that the 230p-a-share offer undervalued the Coatbridge-based firm.

But they were absent from Lees’ annual meeting in Edinburgh when the offer was accepted by a majority of 611,000 votes to 274,000. The shares are now scheduled to stop trading on 11 June.

Flying Brands has to dig deep

Flying Brands, the Jersey-based mail order company in which Sir Tom Hunter holds a 29 per cent stake, yesterday warned its gardening division “continues to face a number of challenges”.

The firm said: “The gardening industry generally this year has suffered as a result of a combination of poor weather and the continuing uncertain consumer outlook.”

Orders for the garden division in the three months to 31 March fell to £3.8 million from £5.5m a year earlier, while sales at its other divisions – which are being sold – fell to £3.2m from £5.3m.

Glasshouse caters for charity walkers

East Lothian-based Glasshouse Hospitality has been appointed to help one of Scotland’s most high-profile charitable events.

The firm will handle the catering for the thousands of people expected to “power walk” through the streets of Edinburgh on 9 June raising funds for breast cancer charity, Walk the Walk.

Managing director Brian Galbraith said: “It’s brilliant to be helping Walk the Walk again this year. This breast cancer charity does an incredible job in raising vital funds with over £14 million raised in Scotland to date.”