Movers: Winners and losers
Appointment of administrators has resulted in two major omissions from the Top 75 league table for 2011, including one of East Anglia's biggest retailers. Acting EDP business editor Elaine Maslin reports.
|Top 10 by year-by-year growth|
|Rank||Company||Year on year change|
|1||The One Account||79%|
|3||The Cromer Crab Company||31%|
|4||A H Worth & Co||29%|
There are two significant omissions from this year's Top 75: Bennetts and Targetfollow, both through the falling into administration of all or part of their business.
The appointment of administrators at Bennetts was a major shock to the region's retail sector.
The electrical chain - one of East Anglia's biggest retailers with sales of about £55m last year - saw two credit insurers withdraw their support, leaving it unable to secure new orders. But managing director Mike Jones said the firm had also been hit by competition with online dealers and supermarkets and weak consumer spending in recent years.
Six of the 16 Bennetts stores were to reopen after being acquired by Lowestoft-based rivals Hughes, at 39 in the Top 75. Buyers are being sought for for the remaining 10 stores. Norwich-based Targetfollow saw two subsidiaries forced into administration last year over debts of about £700m to Lloyds Banking Group.
The move saw key assets including London's Centre Point building sold off by administrators Deloitte.
While a huge blow, the company has continued to trade, with its estate management arm Targetfollow Estates reappointed by Deloitte to manage the assets in administration.
And earlier in the year, Mr Naghshineh told the EDP he hoped to form partnerships with investors to acquire property, with Targetfollow providing the property management expertise and the investors bringing cash.
What shape and size the company will take in the future remains to be seen, but the company suffered a fresh setback with the departure of joint managing director Ian Fox and development director Julian Wells in March, who have set up a rival venture FW Properties.
Another firm to drop out of the Top 75 this year is familyrun motor dealership group Holden & Holden, but it is likely to be a blip for the firm.
A return to the table is likely in 2012, as Holden recently signed a deal which will restore the firm's historic links with Volvo and significantly boost turnover.
The firm was at 74 last year, on a turnover of £29.3m based on its year ended December 2009 figures. At publication, its latest figures were yet to be released.
Regaining the Volvo franchise, which it had held for more than 30 years until 2001, will boost turnover to an estimated £46m, said chief executive Tim Holden. This would have seen it rise to 62 in this year's table.
Others who have dropped out are:
At 73 last year - Eye-based Permastore Group, a manufacturer of glass-fused-to-steel sectional tanks and silos for municipal, industrial and agircultural markets.
At 75 last year - Jarrold & Sons.
The lowest turnover on the list is now £33m, compared with £27m last year.
Rising up intothe Top 75 this year are Duffields Mills and Seajacks.
Duffields, which is based in Saxlingham Thorpe, near Norwich, is still owned and controlled by the Duffield family. It is a manufacturer of animal feeds supplying East Anglia and South East England from its Mills at Saxlingham and a recently acquired mill at Wingham in Kent.
Duffields also own Pen Mill Feeds based in Yeovil who supply the South and South West of England.
The firm's origins go back to 1890 when it was founded in Mattishall to produce flour.
New entrants into the list are Education Travel Group, Tobar, The Cromer Crab Company.