National Timber Group England Ltd has filed a notice of intention to appoint administrators.
The Sheffield-based company and its holding parent, National Timber Group Midco Ltd, both filed a notice of intention on 13th November, affording temporary protection from creditor action while restructuring and rescue options can be considered.
The business operates a portfolio of well-known brands including Arnold Laver, SV Timber, National Timber Systems, and NORclad. Its most recent financial report for the year ending 31st December 2023 revealed a turnover of nearly £200 million in 2023, but also a pre-tax loss exceeding £6 million.
Directors cited macroeconomic headwinds, high interest rates, and restructuring costs as contributing factors. A significant impairment charge related to brand consolidation and operational streamlining further deepened the losses.
Tracing its origins back more than a century, Arnold Laver founded in Sheffield in 1920 and was the fourth acquisition of the-then emerging National Timber Group, which came into existence in 2017-2018 with funding from Cairngorm Capital. The English division of NTG employs over 1,000 staff and operates more than 20 sites.
The Scottish arm of the group — which includes brands like Rembrand Timber and Thornbridge — continues to trade independently and is not part of the current administration process.
This is a developing story. More information will follow in due course…
