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UK crêpe firm’s Oxford branch shut after £3m administration

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Crepe Affaire, in Banbury Road, Summertown, closed on Wednesday, May 27 although founder of the business Daniel Spinath said that it may return.

He said the closure was because the store’s five-year franchise agreement had ended and that the company is weighing up its options before taking the next step.

READ MORE: Leading UK charity in liquidation with £430,000 owed and jobs lost

Reacting to the news, a now redundant worker said: “It is sad but we are closing. It is a big space and too big for the number of customers.”

Offering a range of sweet and savoury crêpes for its customers, it opened in 2021 with some fanfare as part of the £15 million, 180-bedroom easyHotel development in the area.

However, since then the wider business – which has branches across the world including in Kuwait, Saudi Arabia, and the Netherlands – has struggled and was placed into administration in early 2025.

A crepe from Crepe AffaireA crepe from Crepe Affaire

Crepe Affaire Limited posted creditors falling within a year of £1,333,673 in its latest accounts to December 31, 2023 and has been in administration since early 2025.

In the administrators (Quantuma Advisory Limited) report, it was revealed the long-term creditor rise had risen to £3 million as the company struggled in the wake of the Covid pandemic.

It said: “The Covid-19 pandemic on top of the inflation and interest rate hikes, led to the company’s trading results being severely below pre-Covid levels.”

The inside of Crepe Affaire in 2021The inside of Crepe Affaire in 2021

Following its administration, nine company-owned retail sites were sold to newly set-up company Crepe Trading, reportedly saving over 60 jobs.

This was in a pre-pack sale which occurs when a company enters administration and is immediately sold by the administrator, with the deal typically being negotiated before the formal appointment of insolvency practitioners.

This did not include the Oxford branch with the franchise business being sold separately to another new business Crepe Union.

Crepe Affaire in Banbury Road, Oxford (Image: Google Maps)

The directors of Crepe Affaire Limited, the company £3 million in debt, Allen Kerslake and Daniel Spinath, are now respectively the directors of Crepe Union and Crepe Trading.

Mr Spinath has said that, after its troubles, which he linked to the pandemic, the company is going strong internationally, and is even looking to expand into the US.

“The business is in good health despite it being a tough retail environment,” he said.

“The UK side is up and the international side is also doing really well.

“We’re here to stay.”

READ MORE: Fears of rural fuel shortage as farmers warn of upcoming UK food crisis

At the time of the branch’s opening in 2021, Daniel Spinath, founder and CEO of Crepe Affaire, said: “We’ve got something for everyone with our vegan crepes, gluten-free galettes, dairy-free cheese, meat-free chick’n.

“We want to be as inclusive as possible. That’s why our menu has a large range of free-from and dietary options. Vegan? Dairy free? Gluten free? Vegetarian? Pescatarian? Lower calories? We’ve got your back.”

It had a 76 per cent ‘recommended’ score on Facebook based on more than 250 reviews.





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Verne drops Global as it sharpens AI data centre focus

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SOFIAH NICHOLE SALIVIO

News Editor

Verne has unveiled a new brand identity and shortened its name from Verne Global to Verne, a change it says reflects its focus on AI and high-performance computing infrastructure.

The rebrand brings its public identity in line with a business that has expanded from a single-region operator into a pan-Nordic data centre platform. It serves hyperscalers, neocloud providers and enterprise customers with compute-intensive workloads across Northern Europe.

Backed by Ardian, Verne has been repositioning itself in a data centre market reshaped by demand for AI computing. Operators are under pressure to provide sufficient power, cooling and operational depth as customers seek sites that can support denser, more energy-intensive systems.

The updated branding centres on the phrase “natural intelligence”, which Verne uses to describe a combination of Nordic location advantages and the expertise of the teams running its facilities. The new identity is intended to deliver a clearer message to customers and communities as the company grows.

The visual redesign moves away from earlier imagery closely tied to landscape and energy. In its place, Verne is adopting a more restrained look based on Nordic design cues, with mineral textures, muted colours and architectural composition meant to reflect an engineering-led business.

Dropping “Global” from its name also better matches the way the company operates. Verne said it already sees itself as an international business, making the shorter name a simpler expression of its market position.

Market shift

The rebrand comes as data centre operators adjust both strategy and messaging to meet a surge in AI-related demand. Across the sector, providers are trying to distinguish themselves not only through location and sustainability claims, but also through their ability to house dense computing equipment reliably.

Nordic countries have drawn growing interest from data centre and cloud operators because of their cooler climates and access to lower-carbon electricity sources. Those factors can reduce cooling demands and help customers manage the environmental impact of large-scale computing operations.

For Verne, that backdrop has become central to its positioning. The revised brand places greater emphasis on the physical environments where it builds, the staff who operate its sites and the local communities connected to those facilities.

Cheil led the branding work, with support from other agencies across communications and digital strategy. The resulting identity is meant to reflect a business that says it has changed significantly in scale, customer mix and market expectations in recent years.

Nick Spink, Creative Director at Cheil Worldwide, described the thinking behind the project.

“Verne came to us with a clear challenge: how should its brand reflect the fundamental shift the business had made? As we explored the brief, we found a meaningful tension: how to communicate high-performance computing and AI in a way that still felt deeply human. This led us to ‘natural intelligence’, a concept that connects the advanced technology Verne enables with the natural advantages at the heart of the company: its locations, climate and grounded, disciplined approach. It proved a powerful and authentic fit,” said Spink.

Growth plans

Verne said the new identity also supports engagement with local communities in the regions where it operates. That work is intended to help explain the role of data centres in digital services while setting out how the company contributes locally.

The business has sought to frame that local message alongside a broader international customer base. As AI adoption rises, companies running large language models and other compute-heavy applications are looking for facilities that can support sustained, high-density demand, often across multiple sites and jurisdictions.

That has created an opening for operators with room to expand in markets where grid access, land and cooling conditions can still support new buildouts. Investors have been drawn to the same trend, with infrastructure funds and private equity groups increasing their exposure to data centres as AI spending grows.

Ardian’s backing supports Verne as it expands across the Nordics and Northern Europe. The company did not announce new sites alongside the rebrand, but said the refreshed identity is designed to support the next phase of growth.

Anne Katrine Vestergaard Jensen, Vice President of Marketing at Verne, said the changes were meant to reflect a business now facing different expectations from customers and the wider market.

“Verne has changed significantly – in scale, in markets and in the expectations placed on us. This refresh makes that clear. In this market, clarity builds trust, and trust drives decisions. We’ve grounded the brand in something more real: the environments we build in, the people who operate our sites and the role we play in local communities. That’s what gives it credibility – and it’s also what we mean by natural intelligence: the combination of our natural advantages and the human intelligence of the teams behind the infrastructure,” said Jensen.



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UK brewery enters administration as survival crisis mounts

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Redemption Brewing Company, based in north London, has appointed FRP Advisory as administrators and is continuing to trade while a buyer is sought.

The brewery, established in 2010, has been credited with helping to revive the capital’s craft beer scene and was the first commercial brewery to open in Tottenham in nearly a century.

A statement from FRP, seen by CityAM , said: “Rising duty rates in recent years have placed a particular burden on independent brewers, who face a more challenging cost environment than larger national and international competitors.”



Redemption Brewing became part of a community effort in 2013 to save The Antwerp Arms, the oldest working pub in N17 and a longstanding customer.

David Lammy, the local MP and now Deputy Prime Minister, supported the campaign to preserve the pub after corporate developers threatened to replace it with housing.

HMRC filed a winding-up petition against Redemption in January, with a court hearing scheduled for February 2026.

The company’s financial difficulties have deepened, with its deficit rising from £632,151 in 2023 to £705,111 in 2024, alongside a net loss of £72,960 for the latest financial year.

Redemption’s signature products include Hopspur, a premium bitter named in tribute to Tottenham Hotspur, and Big Chief, a New World IPA.



The brewery supplies around 75 pubs across London and has long been regarded as a pillar of the Tottenham community.

The wider independent brewing industry is under strain, with the Society of Independent Brewers and Associates (SIBA) describing a “survival crisis” that has seen around three brewers a week close their doors.

Brewers are contending with rising alcohol duty, VAT, employment taxes, business rates, and corporation tax, alongside higher operating costs.

These pressures have led many pubs to shut down or switch to more affordable products from global brewing companies instead of independent suppliers.

Business rate hikes introduced late last year significantly increased costs for thousands of pub landlords, prompting widespread backlash.



UK’s brewing sector facing pressures

Redemption Brewing’s fall into administration highlights the fragile state of the UK’s independent brewing sector, especially in London, where high costs and tax pressures continue to threaten smaller producers.

FRP Advisory has said it is actively seeking a buyer for the business, and the brewery remains operational during the administration process.

The outcome will depend on whether a suitable investor can be secured to keep the business running and protect the jobs and community heritage attached to the brand.

Are you worried about your local pub? Let us know in the comments





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WealthAi lands Patronus Partners as full deployment client

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WealthAi has signed Patronus Partners as a client, with the deal covering a full deployment of its system across the wealth manager’s business.

Patronus selected the platform after testing a range of artificial intelligence tools over the past 18 months and concluding that separate products did not work well together. The firm had been using a mix of older systems for customer relationship management, compliance and operations, creating duplication and adding administrative work.

The agreement offers a snapshot of how wealth management firms are approaching AI adoption as they try to modernise established technology estates without replacing every existing system at once. In Patronus’s case, the focus was on linking front-, middle- and back-office work through a single layer rather than adding more standalone applications.

Patronus provides wealth management, family office, investment management and trading services. The London-based firm has operated for 11 years and said its existing systems had developed into a patchwork of tools that worked in isolation.

That fragmentation became more noticeable as the business explored AI. Patronus said experiments with tools from OpenAI, Gemini and Anthropic highlighted potential uses across operations, but also exposed practical issues, including inconsistent outputs, limited fit with wealth management workflows and the burden of maintaining oversight in a regulated environment.

The rollout will deploy WealthAi’s assistant and agent layer across the entire Patronus operation. Specialist agents are due to handle compliance monitoring, client management, research and operational workflows, while the system connects with existing infrastructure.

WealthAi said its platform uses a hybrid structure that combines trained small language models with deterministic workflows. According to the company, this allows processes to update continuously without manual changes by Patronus staff.

For Patronus, the operational case appears central. Wealth managers have been under pressure to reduce the time advisers and support teams spend on administration, especially as firms face rising client expectations and heavier regulatory obligations.

Jeremy Steinson, Director at Patronus Partners, described the firm’s experience working with a fragmented technology stack before adopting a single system.

“Before adopting AI, we had a plethora of different systems, none of them talking to each other, all rather archaic, with limited intelligence, let alone artificial intelligence. Like most wealth management firms, it often felt as though we were spending most of our time handling admin when all we wanted was to get back to serving clients and ensuring best outcomes for them.

“We have been utilising AI for the last 18 months, experimenting with tools built by the AI giants that don’t fully understand the nuances and intricacies of our industry. They could improve individual processes or systems, but they wouldn’t communicate with each other. What we wanted was an LLM-agnostic provider that could deliver a full AI overlay to our whole operation in a secure and coherent way. Building a new operating system with WealthAi is how we turn a new page.

“We believe we have found an AI-native platform that understands our market, can be fully embedded throughout our business, can link to any additional tech provider we need to use and, crucially, updates automatically without manual intervention from us. For us, WealthAi is our digital CTO – hopefully a gamechanger in this rapidly evolving market,” Steinson said.

Industry shift

The client win also points to a wider shift in the sector, where firms are moving from isolated AI pilots towards broader operating models. Instead of testing one model for one task, some wealth managers are seeking systems that span regulated workflows and connect data, research, and internal processes in one place.

Patronus will also gain access to WealthAi’s marketplace of data and research providers, including SIX, Morningstar, Capital Economics, MDOTM, and Axyon, as well as a data layer that connects to more than 250 custodians and banks.

WealthAi is based in London and focuses on software for wealth managers. Its offering is designed to replace fragmented legacy infrastructure with a modular AI layer, allowing firms to deploy and scale AI-driven workflows without large overhauls to core systems.

Jason Nabi, Chief Executive Officer of WealthAi, said the Patronus deployment reflects a common problem among firms that have experimented with new AI products while still relying on older systems.

“Patronus is a great example of where the wealth management industry is right now, and a really exciting example of the sort of innovative approach wealth management firms want to take to make their systems and processes work harder, faster and better for clients.

“Firms like Patronus have been experimenting with AI for the best part of two years, but where they struggle is in trying to bolt the latest AI tools onto one another, or onto legacy systems that were never designed to work together. What they actually need is an operating system that connects everything, front to back, across every workflow, with the compliance and governance controls built in from day one. That’s exactly what we’re building for Patronus,” Nabi said.



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