The remaining staff at Hull and at its 33 other sites which were not closed on the spot are now at risk of redundancy too
Jobs have been lost at a Hull timber company after its owners tumbled into administration. The National Timber Group – the UK’s largest independent timber distribution and processing firm – called in administrators last week after a tough trading period triggered cash challenges.
The company, a collection of five entities in the England and Scotland, had 47 sites at the time of appointment, including a base in Hull, but 13 branches had to be shut straight away. The group employs more than 1,150 people, but almost half – 561 – were dealt a devastating blow when they were made redundant immediately.
While the Hull operation was not closed, 13 people were among those made redundant on the spot. It is not known how many people remain at the Hedon Road site, but across the group all remaining 589 jobs hang in the balance, as administrators make a bid to find a potential buyer for the business.
The group, which has its head office in Sheffield, was created in 2018 through the acquisitions of brands including Thornbridge, NYTimber, Rembrand Timber and Arnold Laver in a deal backed by private equity firm Cairngorm Capital.
Michael Magnay, Gemma Quinn and Jonathan Marston of business advisory company Alvarez & Marsal are now the joint administrators of the five entities making up National Timber Group. Their appointment came two weeks after a notice of intention to appointment administrators was filed by two of the companies.
The sites which are now closed in England are in Bradford, Cheltenham, Rainham, Peterborough, Stoke, Alfreton, Northallerton. The closures in Scotland include Dumbarton, Forfar, Newton Stewart Edinburgh Hawkhill, Anniesland and Stirling.
The three administrators have launched a sale process for the business and assets of the group, saying they have been encouraged by interest shown so far.
Michael Magnay, joint administrator, said: “National Timber Group is the UK’s leading timber supplier to joiners, housebuilders and contractors, operating under a number of widely recognised brands. As 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. Regrettably, the company’s liquidity challenges have led to a number of immediate redundancies.
“We are committed to supporting the affected employees through the redundancy process. We appreciate the support and patience of the highly skilled workforce in difficult circumstances, particularly at this time of year.”
Get all the latest headlines sent straight to your inbox for free with our newsletter. You can stay up to date with all the breaking news and top stories as they happen in Hull and East Yorkshire by clicking this link .