Snows Timber, previously part of The Bradfords Group, has announced the completion of a management buyout led by Managing Director, Ian Church <see following note>.
End of year update:
A statement on the Snows Timber website has confirmed that the business entered administration on 18 November 2019. It read as follows:
On 18 November 2019, Matthew Haw and Matthew Wild of RSM Restructuring Advisory LLP were appointed administrators of Snows Timber Limited.
The joint administrators are in the process of selling the business and assets of the company and invite interested parties to contact them by email at restructuring.london.core@rsmuk.com
The joint administrators act as agents of the company and without personal liability.
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Snows Timber was founded in the late 1800s and acquired by The Bradfords Group in 1988. Ian, alongside Supply Chain Director Craig Willoughby and Finance Director Adam Cray had their bid for a management buyout approved by Bradfords in January 2019 and have since been busy completing the deal.
Ian said: “This is great news for us and for Snows’ customers. It enables us to create a truly agile business and to continue investing in the areas that really need it. In our customer service proposition, we aim to be the very best in our sector. What excites us the most is the fact we are now truly independent.”
Snows remains a national importer, processor and distributor of timber & timber products through it’s Andover and Mansfield Distribution Centres. The National Sales Office in Towcester remains and now becomes the new Snows Head Office, located at Pond Barn, Pury Hill Business Park, Towcester, Northamptonshire, NN12 7LS.
The Glastonbury Head Office and Distribution Centre was sold to Sydenhams in February 2019. As part of the sale agreement, Snows cannot trade in the counties of Devon, Cornwall and Somerset for a period of 12 months, starting on 1st March 2019.
UPDATE: 21st March, 2019
A statement from the Bradfords Group notes that the divestment of Snows Timber follows “a strategic view of its businesses” which resulted in the decision to “focus on its core business, Bradfords Building Supplies”.
David Young, Bradfords Building Supplies Managing Director, commented: “I’d like to wish all Snows Timber employees every success for the future. I believe that the Bradfords Group has an exciting future ahead. We’ve been brave enough to make some big changes to create the right business foundations that will ensure our future success. We have a clear strategy and firm ambitions as we look to continually grow and innovate our services.”
Bradfords remains one of the largest and longest-established independent builders’ merchants in the UK. The family-run firm has been trading since 1770 and now has a total of 43 branches across the South West.
Related News:
Snows Timber enters administration – 18 November 2019
Snows Timber warns against ‘no deal’ Brexit
