Interpath Advisory facilitated the sale of Thomas Wright/Thorite Group Limited, a historic Bradford-based provider of pneumatics and compressed air systems, to Flowtech Fluidpower plc. Appointed as joint administrators on August 23, 2024, Howard Smith and Rick Harrison managed the transaction following the company’s trading difficulties, which had made it loss-making. The sale secured the jobs of all 105 employees. The business, operating since 1850, had struggled to find a solvent solution, leading to the administration and subsequent sale. The acquisition allows Flowtech to integrate Thorite’s expertise into its operations while preserving the legacy of this long standing business.
PKF Littlejohn has been appointed as the liquidator of It’s OK Limited, following a winding-up petition by the Information Commissioner’s Office (ICO). The ICO imposed a £200,000 fine on the company after an investigation revealed that It’s OK made over 2.5 million unsolicited marketing calls, many of which targeted individuals registered with the Telephone Preference Service (TPS). The calls, made between 2019 and 2020, often misled consumers, particularly the elderly, about their white goods warranties. PKF Littlejohn’s Stratford Hamilton and James Sleight will oversee the liquidation process following this sustained and exploitative marketing campaign.
Bibby Asset Finance has strengthened its leadership team with the appointments of Gil Cubells as head of national broker sales and Dan Nield as operations director. Cubells, bringing 40 years of experience in asset finance, will lead the broker sales teams to enhance service levels and business volumes. Nield, with 25 years in the sector, will focus on growing market share and developing the team. Managing director Sean Neville highlighted that these appointments align with Bibby’s strategy to support SMEs in leveraging third-party funding for growth, particularly as the economy shows signs of recovery.
Deloitte’s latest report reveals that while Generative AI (Gen AI) adoption is rising, with 67% of organisations increasing investment, data and risk remain significant challenges. A survey of 2,770 executives highlighted the importance of data management, with 75% enhancing technology investments in this area. However, 55% of organisations avoid certain Gen AI use cases due to data issues. Risk management also poses barriers, with concerns about regulatory compliance, governance, and trust. Despite these challenges, organisations recognize the value of Gen AI in improving efficiency, innovation, and customer relationships, though enthusiasm among senior leaders shows signs of waning.
