Timber Giant Declares Administration Notice
The Sheffield-based timber supplier, employing over 1,000 staff, has announced a notice of administration. This action aims to provide protection against creditor claims while the company explores restructuring and recovery strategies.
Company Overview
The National Timber Group England operates extensively across the UK under prominent brands. Key names include Arnold Laver, National Timber Systems, SV Timber, and NORclad. The company has multiple branches, including locations in Alfreton, Nottingham, and Leicester.
Financial Performance
Recent financial reports indicate significant challenges for the timber giant. In 2023, the company posted nearly £200 million in revenue but faced pre-tax losses amounting to £6.3 million.
Historical Background
Founded in 1920, the company began in Sheffield under the leadership of Arnold Laver. Over the decades, it has become a vital supplier for joiners, house builders, contractors, and large-scale infrastructure projects.
Current Situation
The National Timber Group England is currently part of National Timber Group Midco, which has also filed a notice of intention to appoint an administrator. This step signifies a critical moment for the organization as it considers future options.
Implications for the Timber Industry
- Potential impact on providers and contractors relying on timber supplies.
- Possibility of market disruption due to the pending administration process.
- Concern over job security for over 1,000 employees across the branches.
The situation remains fluid as the company navigates these challenges. Further developments are anticipated as plans for restructuring unfold.
