Beanscene coffee chain in administration

first_imgScottish coffee chain Beanscene has gone into administration after its new backers were unable to continue with necessary cash injections. Beanscene has 14 outlets across Scotland, which will continue trading under administrators KPMG.Blair Nimmo and Tony Friar of KPMG Restructuring were appointed as administrators on Thursday 24 July, and hope to find a buyer for the chain. The statement revealed that despite the company’s £4 million turnover its overheads became unsustainable.“Add to this the costs of five leases which had been entered into for premises that were not fitted out or trading and the result were bottom-line losses, which have continued into the current year,” added the statement. Ownership of the business had transferred in April this year and a significant amount of funds were injected into the business, but following “an unexpected change in circumstances” the new backers couldn’t continue with their previous financial input and the directors were forced to place the company in administration. “The opportunity now exists to acquire a strong brand name, based on quality coffee delivery in a relaxed ambience,” said Nimmo. “We remain hopeful that we can find a buyer for the business and effect a quick sale of the company and its assets.”last_img read more

Wolf Administration Teams with PUC and Utilities to Highlight Efforts to Grow Veterans in the Utility Workforce

first_img SHARE Email Facebook Twitter Jobs That Pay,  Press Release,  Veterans,  Workforce Development Harrisburg, PA – Today Wolf Administration officials from the Pennsylvania Department of Labor & Industry (L&I) and the Department of Military and Veterans Affairs (DMVA) joined Pennsylvania Public Utility Commission (PUC) Chairman Gladys M. Brown and representatives from public utilities from across the state to highlight the importance and impact of veterans in the utility workforce.“Pennsylvania’s veterans deserve every opportunity to continue their career success after they return home to civilian life,” Governor Tom Wolf said. “The chance to grow the veteran workforce in our public utilities demonstrates how Pennsylvania employers support and value these hard-working individuals.”“First and foremost, our veterans have already made a tremendous contribution to keeping our nation safe and secure – and veterans play a strong role in our public utilities and overall labor force,” noted Chairman Brown. “These men and women are disciplined, mission driven, safety focused, community oriented and understand the critical nature of utility services.”Chairman Brown noted that Pennsylvania’s workforce includes 266,000 veterans, and the state ranks eighth in the nation in the number of veterans between 18 and 64 years old. Still, there are concerns about unemployment, with about 13,000 Pennsylvania veterans without jobs right now – and many others may still be struggling to find the right civilian-sector job for themselves or their families.The PUC, together with state agencies and utilities, is working to connect more veterans (and their families) to employers, as well as encouraging more talented workers, of all ages and backgrounds, to consider careers in the utility sector – which has a strong and growing demand for a new generation of employees.“Our nation’s veterans have served in numerous military specialties that have direct ties to the utility industry.  These include satellite/telecommunications operations, cable/fiber line installers, electrical systems, engineering and logistics,” said Maj. Gen. Tony Carrelli, Pennsylvania’s adjutant general and head of the DMVA. “They are valuable, highly skilled individuals who will greatly contribute to the utility industry workforce.”Nationally, there are about 200,000 men and women transitioning from the military to civilian work every year – which means there is a substantial group of skilled candidates looking for opportunities.  Additionally, one of the top classifications for service members looking for work in the private sector is “Engineering, Science and Technical,” which fits very well with some of the utility industry jobs that are in the highest demand.Working together with agencies and utilities across the state, and in conjunction with a task force created by the National Association of Regulatory Utility Commissioners (NARUC), several issues have been identified:The need for enhanced communication, especially helping veterans and potential employers better understand each other;“Translating” military skills and classifications into the positions and needs of the civilian sector;Greater information-sharing about job openings;Highlighting various training and apprenticeship programs; and,Identifying ways to promote Pennsylvania opportunities on a regional and national level.As part of the effort to increase access to information, the PUC has established an enhanced LinkedIn site to highlight information about job opportunities, not only at the Commission, but also the greater spectrum of utility jobs across the state.The other part of this equation is helping veterans, along with other potential job-seekers, understand the career potential of working in the utility sector.“Pennsylvania’s utilities – large and small, across the state – represent tens-of-thousands of well-paying, family-supporting and community-oriented jobs,” said Chairman Brown. “These are jobs and skills that will remain in-demand well into the future, with growth and training opportunities, good wages, and the satisfaction of knowing that you are serving your local communities.”Chairman Brown noted there is a current and growing demand for new workers, as a large percentage of our utility workforce is quickly approaching retirement age, fueling a statewide and national appetite for a long list of skills, including:Engineers;Field operations, including the people who maintain existing systems and build-out new systems;Plant Operators, who keep the energy and water flowing to our communities; and,Various technical positions, including relatively new areas of concern, like CyberSecurity.“This is an issue that goes far beyond one agency or utility. It’s an issue that has the potential to impact us all, in terms of the reliability and cost of utility service,” said Chairman Brown. “These are systems and people we depend upon to keep our communities safe and healthy, and it is important that we do what we can to ensure that our utilities have the skilled personnel they need to meet the needs of today and tomorrow.”The Pennsylvania Public Utility Commission balances the needs of consumers and utilities; ensures safe and reliable utility service at reasonable rates; protects the public interest; educates consumers to make independent and informed utility choices; furthers economic development; and fosters new technologies and competitive markets in an environmentally sound manner.For recent news releases and video of select Commission proceedings or more information about the PUC, visit our website at Follow the PUC on Twitter – @PA_PUC for all things utility.  “Like” Pennsylvania Public Utility Commission on Facebook for easy access to information on utility issues. Wolf Administration Teams with PUC and Utilities to Highlight Efforts to Grow Veterans in the Utility Workforcecenter_img November 09, 2017last_img read more

AP7 outshines private pension providers with 2017 return

first_imgAP7’s dominance over Sweden’s premium pension system increased last year with new customers and a better-than-average investment return.The fund – one of Sweden’s national pension funds and the default provider in the country’s premium pension system (PPM) – increased its saver numbers last year to more than half of the total participants in the system.Its balanced fund offering, Såfa, generated an investment return above the average return produced by private providers in the PPM, returning 14.4% in 2017.This compared to the 11.3% average return from funds included in the system’s funds marketplace, according to full-year figures released by the Swedish Pensions Agency. In 2016 Såfa returned 13.9%, compared to the average private sector return of 9.5%.The agency said: “Like the year before, 2017 was a year which – viewed from a premium pension perspective – goes down in history as one of the most dramatic.”The year had included everything from scandals and police investigations to a proposed overhaul of the funds marketplace, it said.The PPM is the funded part of the Swedish state pension where pension savers can make their own investment choices. Contributions can either be put into products from the wide range of private sector investment managers, or invested with state pension fund AP7’s Såfa option, which uses a lifecycle approach.The majority of savers in the system had their savings with AP7 in 2017, with the SEK400bn (€38.9bn) fund’s share of customers rising to 52% from 48% in 2016.However, accounts held with AP7 remained much smaller on average than those held with private sector providers. Assets held with AP7 Såfa amounted to 33% of the total fund capital in the premium pension system last year.The average account balance at AP7 was SEK173,400, while pension savers with their own portfolios with fund marketplace providers had an average of SEK241,200, according to the data.Bengt Norrby, statistician at the Swedish Pensions Agency, said: “An explanation for the difference in savings is that a large part of the capital inflow to AP7 Såfa comes from young savers, who usually have lower incomes and, consequently, lower pension contributions.”At the end of 2017, total managed capital in the premium pension system amounted to SEK1.4trn, up from SEK986bn at the end of the previous year.last_img read more