The Northallerton branch of the UK’s largest independent timber supplier is among 13 to have closed immediately with the loss of 561 jobs after the firm collapsed into administration.
National Timber Group — which traded as NYTimber in Northallerton and Brompton-on-Swale — entered administration this week after what administrators described as a “long spell of weak trading” and significant pressure on cashflow.
Administrators from Alvarez & Marsal have now shut 13 branches across England and Scotland, including the company’s depot in Thurston Road, Northallerton, and temporarily mothballed several of the group’s production facilities.
Remaining depots continue to trade while efforts are made to secure a buyer for the £300m-turnover business.
The Sheffield-based group employs around 1,150 staff across 47 sites nationwide, including long-established timber operations dating back to Arnold Laver’s founding in 1920.
Over the last decade the business grew substantially through acquisition, bringing its various brands under the National Timber Group umbrella.
Michael Magnay, partner at Alvarez & Marsal and 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.”
The administrators are now trying to secure a rescue deal amid fears of supply chain disruption heading into the winter slowdown.
Further updates on site closures and the sale process are expected in the coming days.
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