Administrators from Alvarez & Marsal have closed 13 branches across England and Scotland and mothballed several production facilities as they move to stabilise the business.<\/p>\n
Remaining depots continue to trade while the team races to find a buyer for he \u00a3300m turnover business.<\/p>\n
Partners at Alvarez & Marsal, now running five National Timber Group companies, have launched an urgent sale process amid fears of further supply chain disruption heading into the winter slowdown.<\/p>\n
The Sheffield-based group was built around the Arnold Laver brand, founded in the city in 1920, and expanded over the years through Thornbridge, NYTimber and Rembrand Timber acquisitions. Today the group employs 1,150 staff across 47 sites.<\/p>\n
But a long spell of weak trading and tightening cashflow finally brought the business down.<\/p>\n
Alvarez & Marsal partner Michael Magnay said: \u201cNational Timber Group is the UK\u2019s leading timber supplier to joiners, housebuilders and contractors, operating under a number of widely recognised brands.<\/p>\n
\u201cAs Joint Administrators, we have launched an accelerated sale process, and we encourage any interested parties to contact us as soon as possible. We are encouraged by the level of interest so far and we are hopeful of finding a buyer for all or parts of the group.\u201d<\/p>\n<\/p><\/div>\n
<\/p>\n