The chief executive of Crieff Hydro, the Perthshire-based hotel group, has declared there will be “significant closures” across the tourism and hospitality industry as it grapples with a barrage of soaring costs.
Stephen Leckie issued the warning as new accounts show that the company, which owns Crieff Hydro, Peebles Hydro and the Ballachulish Hotel, returned to profit in the year ended February 28.
Eighth-generation kilt fabric maker bought by former Johnstons of Elgin chief
Former Johnstons of Elgin chief executive Simon Cotton and wife Clare have bought venerable, eighth-generation textiles business Macnaughton Holdings, founded in 1783.
Macnaughton, which makes and sells fabric for kilts and cloth for home interiors, has been bought in a deal completed last week from its founding family, with the main shareholders having been husband and wife Blair and Jan Macnaughton. The Macnaughton manufacturing and wholesale business, which also supplies sporrans to the Highlandwear market, employs about 80 people.
New initiative to 'turn up the dial' on sluggish Scottish economy
A new programme to “turn up the economic dial” in Scotland is being launched with the aim of getting more companies beyond the start-up stage and into the realm of £100 million revenue businesses.
The Hunter Foundation has linked up for the first time with the Scottish National Investment Bank (SNIB) to introduce an advanced iteration of the ScaleupScotland programme run by the foundation for the past three years. The deadline for applications is September 19, after which 12 firms will be chosen to take part in the 12-month programme.
Scottish legal firm unveils record bonus pot
Independent Scottish law firm Morton Fraser is paying a record staff bonus and spending £1 million on new premises following a 40 per cent rise in net profits.
More than £600,000 will be shared among all of the firm’s 260 staff in Glasgow and Edinburgh, an increase of 50% on the previous year and 30% higher than in the year prior to the pandemic. Its new office hub in central Glasgow has been designed for “hybrid, collaborative working”.
Owner of Glasgow's landmark Met Tower expands investment plans
The owner of Glasgow’s landmark Met Tower building has announced plans to double the size of its proposed science and technology hub at the former College of Building and Printing.
The 14-storey Met Tower, which has been covered with a huge “People Make Glasgow” graphics wrap since the 2014 Commonwealth Games, was acquired by Bruntwood SciTech in May. The specialist property developer’s initial plans were to redevelop the Grade B listed building, which has been vacant for the last nine years, into 113,000sq ft of co-working space for expanding tech and digital businesses.
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