Joint Administrator appointed to National Timber Group

Alvarez and Marsal has been appointed as the Joint Administrator of five entities making up National Timber Group. This comes after the company had filed a notice of intention to appoint administrators earlier in November.

National Timber Group England operates a range of brands within the timber industry including Arnold Laver and National Timber Systems.

It employs 1,150 people across 47 sites in England and Scotland. The Group was placed into administration following a difficult trading period and resultant liquidity challenges.

There have been 561 immediate redundancies across sites and central functions, with Alvarez and Marsal said to be supporting these employees through the redundancy process.

Michael Magnay of Alvarez and Marsal 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.”

Commenting on the situation, David Hopkins, Chief Executive of Timber Development UK said earlier in the month: “Market conditions are utterly brutal right now for all of our members, large and small alike. Our thoughts are with the staff and teams across the National Timber Group. There is a rich history and legacy within all of the brands which make up NTG and we hope that as much of this as possible can be saved regardless of the eventual outcome.”

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