More than 500 jobs lost as major timber firm with site in West Bromwich goes into administration
National Timber Group, which has a branch in West Bromwich, has gone into administration with 561 jobs lost across the country.
The firm, which employs 1,150 people across 47 sites in England and Scotland, called in administrators on November 26, with tough trading conditions blamed for its demise.
The group, headquartered in Sheffield, is the UK’s largest independent timber distribution and processing group in the UK.
Michael Magnay, Gemma Quinn and Jonathan Marston of leading professional services firm Alvarez & Marsal were appointed as joint administrators on November 26 after a notice of intention to appointment administrators was filed on November 14.
A statement issued by the joint administrators said the business had suffered a difficult trading period and liquidity challenges.
It said there have been 561 immediate redundancies made across sites and central functions, and 13 of the group’s branches have been closed with immediate effect - with the remaining sites continuing to operate. Some of the company’s production facilities have also been mothballed.
It's understood that the West Bromwich distribution centre in Birmingham Road remains open but 16 jobs have been lost at the site.
The National Timber Group's Stoke-on-Trent site is among those closed immediately, with 19 redundancies.
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.”
