Business

Social Chain co-founders Steven Bartlett and Dominic McGregor to step down

They are to step down from their roles at Social Chain after six years.

Emily Sergeant Emily Sergeant - 17th August 2020
Social Chain AG

Co-founders Steven Bartlett and Dominic McGregor have announced today they are to step down from their roles at Social Chain after six years.

CEO Bartlett and COO McGregor were just 20 and 21 respectively when they became founding members of the Manchester-based social media publishing and marketing company that has since grown to over 750 staff globally and has revenues forecast to hit $200 million this year.

Announcing his stepping down across social media this morning, Steven Bartlett said: “Social Chain was conceived on a small desk in the backroom of the uni I had just dropped out of in Manchester. I was 20, full of wild dreams, and I believed we could take on the world.

“What started as a crazy and sometimes ridiculed idea, in the mind of a few drop-out underdogs, at a time when people didn’t believe in the potential of this new thing called social media.

“As I write this, at 27, we have more than 700 Social Chainers around the world, a world-beating team, we went public last year, we are the best at what we do, and we’ve just posted record numbers. The company is showing unbelievable momentum and I remain Social Chain’s biggest fan, supporter, and believer.

“I owe an unpayable debt of gratitude to my team, past and present – if it wasn’t for you, my board, our chairman, (and mum and dad), I would be nothing.”

Twitter – Steven Bartlett

In a post to LinkedIn today, Dominic McGregor added: “I’m deeply proud of everything we’ve achieved, the relationships we’ve made and the lessons learned,”

“Social Chain is a very special company, the growth we’ve seen over the last six years has been quite frankly phenomenal, we recently posted record numbers, and based on some of the exciting things I’ve seen over the last year, the future promises to be even brighter than the past.

“This business has been my rock, even when I faced difficult times in my personal life. The purpose it gave me, and the people I worked with got me through – they gave me something to fight for and without it, and without them, I wouldn’t be the person I am today.”

LinkedIn – Dominic McGregor

The pair has overseen exponential growth throughout the past six years at Social Chain.

The journey may have started with humble beginnings in Manchester, but Social Chain now has bases in London, Berlin, New York and Munich, and works with global brands such as Amazon, Coca Cola and Apple.

It claims an owned media reach of over 2 billion views a month.

Last year, the company merged with German online retailer Lumaland AG to become The Social Chain AG and list on XETRA and the Düsseldorf Stock Exchange, and it recently announced the largest acquisition in its history by taking a 51% stake in A4D Inc – a Southern Californian digital performance marketing agency.

It has been confirmed that Wanja S. Oberhof – currently Co-CEO of Social Chain AG – will retain his position as CEO upon Bartlett’s standing down.

You can find out more about Social Chain AG via its website here.

Business

Petition launched to rebuild Hotspur Press in its ‘original form’ following devastating fire

Emily Sergeant Emily Sergeant Hotspur Press aftermath

A petition has been launched to rebuild the Hotspur Press building in its ‘original form’ following the devastating fire last week.

In case you missed it, one of Manchester’s most historic landmarks has been left a shell of its former self after a huge fire erupted at the now-derelict Hotspur Press, which is on Cambridge Street beside Oxford Road train station, last Monday (23 June), destroying the iconic building that stood standing for more than 200 years.

It was subsequently declared a ‘major incident’ by authorities.

Thick black smoke clouds could be seen for miles over the city centre from around 4:30pm onwards and into the evening, as fire crews worked to extinguish the blaze.

Greater Manchester Fire and Rescue Service (GMFRS) confirmed that a total of 20 fire engines from across Greater Manchester were at the scene tackling the blaze – which it said had spread to three floors of the building.

At the height of the blaze, two aerial units and more than 100 firefighters were working at the scene in warm and humid conditions.

But for the past couple of years now, before the building went up in flames, Hotspur Press was at the centre of redevelopment controversy, where planning permission was being sought to transform the building into high-rise student accommodation – and it’s these proposals that prompted the petition calling for an authentic rebuild to be set up.

That and the fact that it was announced towards the end of last week that Hotspur Press was to be part-demolished.

Hotspur Press aftermath
A petition has been launched to rebuild Hotspur Press in its ‘original form’ following the devastating fire / Credit: The Manc Group | Jonathan Boswell (Submitted)

Already racking up more than 400 signatures and counting, the petition calls for the historic building to be restored ‘faithfully and fully’.

“The recent fire has robbed Manchester of one of its most iconic and historic buildings, a cornerstone of the city’s skyline and industrial heritage,” the petition reads. “Hotspur Press was not just bricks and mortar, it was a living reminder of the city’s printing legacy, a symbol of Manchester’s character and soul.

“What we don’t need is another anonymous block of luxury flats that serve investors over residents.

“We are tired of seeing our history erased for profit. We demand that what is rebuilt reflects the identity, memory, and voice of the people who actually live here.”

Read more:

The petition concluded: “Buildings like Hotspur Press carry the stories of the people who built this city – and they deserve more than neglect, fire, or demolition. Let this be the turning point. Rebuild Hotspur Press, and set a precedent for putting people, history, and place before profit.”

If you’re in support, you can find out more and sign the petition here.

Featured Image – Jonathan Boswell (Submitted)

Business

The latest on Salford Red Devils’ financial situation as ‘winding-up’ petition is adjourned

Danny Jones Danny Jones Salford Red Devils finances problems explained

The current situation at Salford Red Devils is far from ideal, with the rugby league team currently owing hundreds of thousands of pounds in debt, not to mention facing further stress over finances with players owed wages, key personnel leaving and remaining uncertainty over future ownership.

So, why is the board expressing reassurance among supporters following the recent adjournment of a ‘winding-up’ petition, and what exactly does this mean?

It is no doubt a complex issue, but with the season concluding in October and the Greater Manchester club essentially being given a stay of execution, for lack of a better phrase, it’s possible that a corner could hopefully be turned soon.

Here’s everything we know so far about the situation in Salford and where the Red Devils’ finances are currently at.

Salford Red Devils’ finances and more – explained

For a start, they’re late on payroll again this month.

How much do Salford Red Devils owe and why?

According to recent reports, Salford Red Devils owe more than half a million pounds to His Majesty’s Revenue and Customs (HMRC) at present, with current estimates said to be in the region of £600,000.

The Super League side has fallen into debt due to a number of factors: their own performance as a business, cuts to local funding and a period of spending in terms of recruitment and pre-season preparation under the assumption of a subsidy from Salford City Council (SCC).

However, this would-be uplift – despite it being promised late last year – never came as the Council (having already provided £315k in ‘immediate’ financial aid back in March 2024) U-turned on the decision after it was revealed further backing was not in the budget.

SCC ended up owing around £2 million itself after stepping in to save both SRD and fellow rugby league outfit Swinton Lions, handing out loans to both clubs even prior to purchasing Salford Community Stadium and the surrounding area.

The Council ultimately shelled out north of £7.7m to buy the ground and sever commercial ties with previous owners, Peel. They had hoped to further alleviate pressure on the club, but Salford Red Devils (SRD) had already spent the money they were expecting to receive on new players, training and more.

SRD were then told to sell off a number of players by the league.

Salford Red Devils issue statement after being ordered to sell players by Rugby Football League
Former CEO Paul King was also parachuted back in to try and save the club after his predecessor left almost as quickly as he came.

What is the ‘winding-up’ petition?

With all this in mind, something called a ‘winding-up’ petition – basically a document sent by creditors that demands the immediate liquidation of a company/organisation that owes them money – was filed by HMRC back in May, with the tax authorities demanding payment of the outstanding sum.

However, special dispensation appears to have been made not only due to the complicated and unforeseen circumstances Salford have faced along the way, but also for the sake of the Rugby Football League (RFL) itself, with the Red Devils still seen as a valuable sporting and community asset.

One of those unexpected twists was the takeover by a new consortium led by Dario Berta, whose investment failed to clear in time and resulted in the club being hit with the financial sustainability problem that saw them cutbacks.

In a small bit of good fortune, it has now been decided that the petition to liquidate the SRD has been postponed, though not indefinitely.

What could happen next?

The date for coughing up what debt they owe to the tax authorities has now been pushed back to September, meaning they have until then to find the finances, or else they could very well be made insolvent in a matter of months.

However, as per BBC Radio Manchester, those involved in the ongoing process are “confident” that bridging loans will be put in place over the coming days to keep HMRC at bay.

And, nevertheless, head coach Paul Rowley has insisted that he can see “green shoots” starting to emerge around the club, despite still sitting bottom of the table with just one win to their name.

What’s for sure is that the local area isn’t giving up on them, with numerous fundraisers and charity events being set up to help support the club via the official Salford Red Devils Foundation.

Fingers firmly crossed that there is light at the end of the tunnel.

Read more:

For all the latest news, events and goings on in Greater Manchester, subscribe to The Manc newsletter HERE.

Featured Images — Antony Parkes (via Geograph)/Salford Red Devils (via website)

More Business

Business

Kala announces closure after more than half a decade in Manchester city centre

Business

Co-op is offering shoppers £10 discounts as a ‘thank you’ following its cyber attack

plans for new cultural hub in wythenshawe town centre approved

Art & Culture

Plans for a new cultural hub in Wythenshawe have been green-lit

Audio

Clint Boon takes us around Manchester's iconic Deaf Institute

Eats

We go meatballs deep with Mira's traditional Neapolitan sandwiches