Thames Valley Police concluded its investigation into the fire on Buckingham Road, Bicester, on May 15, 2025, and handed it over to the Health and Safety Executive (HSE) to continue enquiries.

Firefighters Martyn Sadler, 38, and Jennie Logan, 30, and member of the public, Dave Chester, 57, sadly died after the fire at the business park which raged for hours, and two other firefighters were seriously injured.

L-R: Dave Chester, Martyn Sadler and Jennie Logan (Image: Family handouts)

Thames Valley Police concluded that, following a thorough investigation from the force’s major crime unit, alongside HSE, no referrals would be made to the Crown Prosecution Service to bring criminal charges relating to the tragic incident.

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Following the conclusion of the police investigation being released, Bicester Motion welcomed the progress in understanding what happened, and issued a short response.

Bicester Motion (Image: Ed Nix)

A spokesperson said: “Bicester Motion would like to acknowledge Thames Valley Police for its professionalism and diligence in conducting a thorough investigation following the tragic events of May 2025.

“As the investigation has now been formally handed over to the Health and Safety Executive and remains ongoing, Bicester Motion will not be providing further comment at this time.”

Thames Valley Police’s assistant chief constable Dennis Murray earlier confirmed the force is not seeking any prosecutions, and added: “Our thoughts will always be with the loved ones of Martyn Sadler, Jennie Logan and Dave Chester, as well as the injured firefighters.”

KAREN JOY BACUDO

Finance Editor

The British Business Bank has committed GBP £50 million to Soho Square Partnership Capital Fund II, becoming a cornerstone investor in the fund.

The commitment is intended to support established small and medium-sized businesses seeking funding for expansion, acquisitions and succession planning. Several US institutional investors have also joined the fund, adding to its capital base.

London-based Soho Square Capital focuses on lower mid-market businesses, providing structured finance to founder-owned companies in the UK. Its model centres on debt-led funding with smaller or minority equity positions, offering an alternative to conventional bank lending and full private equity buyouts.

Fund II will back businesses in sectors identified in the government’s industrial strategy, with a preference for digital and technology, as well as professional and business services. It will lend to companies with EBITDA of up to GBP £15 million and turnover of up to GBP £200 million.

At least 75% of the vehicle is expected to be invested in the UK, with a particular focus on companies outside London across the nations and regions. The commitment also aligns with the British Business Bank’s wider plan to direct more capital towards eight industrial strategy sectors over five years.

Its role as a cornerstone investor is also intended to attract other institutional money into the market. The bank will also be able to participate in co-investments alongside the fund.

Funding gap

The investment highlights a part of the finance market that policymakers and specialist investors consider underserved. Established smaller businesses often need capital for technology adoption, acquisitions or ownership transitions, but may find standard bank loans too restrictive and private equity too dilutive.

Structured capital aims to address that gap by combining secured lending with a more limited equity element. For founders, that can mean raising larger sums without ceding control of the business.

“This commitment is directly addressing a gap in the debt market. It will unlock flexible capital solutions for established businesses with strong growth potential, an area currently underserved by other lenders. It will create more jobs and drive long-term economic growth across the UK’s nations and regions, while strengthening the modern Industrial Strategy sectors which are critical to the UK’s future competitiveness,” said Adam Kelly, Managing Director and Co-Head of Funds, British Business Bank.

The government linked the transaction to its wider economic agenda for smaller companies and regional growth. Ministers have argued that better access to finance for expanding companies is necessary if more businesses are to remain independent as they grow in the UK.

“Through our Modern Industrial Strategy, this Government is ensuring businesses with the highest growth potential have the capital they need to succeed here in the UK,” Blair McDougall, Minister for Small Business and Economic Transformation, said.

“This commitment backs dynamic SMEs in key sectors, helping them scale, create jobs and drive growth, to raise living standards across the UK.”

Founder focus

Soho Square positions its approach around founder-owned businesses facing transitional moments rather than businesses preparing for a sale. Those moments can include operational expansion, investment in technology, acquisitions or succession events in which owners want to retain meaningful control.

Its funding structure is designed to allow business owners to continue building their companies without ceding ownership to a traditional buyout investor. That approach has become more prominent as founders look for capital options between senior bank debt and private equity.

“The Bank’s backing lets us do more of what we set out to do: give founder-owned businesses the institutional capital they need, on terms that let them stay in control and keep building. That is what our partnership capital is about, and having the Bank behind it means more high-quality UK businesses can take their next step without giving up the reins,” said Walid Fakhry, Co-Managing Partner, Soho Square Capital.

The British Business Bank’s core programmes support GBP £23 billion in finance for almost 64,000 smaller businesses. The Soho Square commitment adds to a broader effort by the state-backed lender to use public capital to attract private investors and broaden the range of funding available to UK companies.

Octopus Energy has scrapped its popular coffee reward.

Until now, customers could claim a free hot drink at Caffè Nero or Greggs, with codes generally released before 6am.

Instead, Octopus has introduced a weekly digital scratchcard that offers the chance to win a coffee, among other prizes.

In an email to customers, the company said: “Every Monday, you’ll get a chance to scratch and win an epic prize.

“Tens of thousands of treats, from free coffees to tasty snacks, dinner delivery discounts, chocolate bars and more will be up for grabs weekly to make Mondays a little more bearable.”

The change has sparked disappointment among some Octopus customers, many of whom took to social media to express their frustration with the decision.

One user commented: “Awful decision for the customers, another way of saving money for the company, nothing ever lasts long that is good for the customer and then they try and spin it that it is.”

Another wrote: “Very disappointed to hear we will no longer get our coffees. It stopped me from looking at other energy suppliers but as my fixed deal is coming to an end next month there is no reason not to change supplier now.”

A third added: “Absolutely rubbish. A pretty much guaranteed weekly coffee for a lot of people – to a scratchcard with a slim chance at rubbish nobody wants, and a much bigger chance of getting nothing at all.”

Octopus Energy defended the decision, saying the new system is designed to be fairer for all.

In a response to the complaints on Twitter, the company said: “We wanted to make things fairer so every Octoplus member gets an equal chance to win throughout the day, without the morning rush.”