Britain's biggest timber merchant has been forced to take action to stave off insolvency and is in talks to sell chunks of the business.
National Timber Group was set up by Cairngorm Capital in 2018 to consolidate the timber trade, acquiring Thornbridge, North Yorkshire Timber, Rembrand Timber, Orchard Timber, Hymor Timber, SV Timber, Norclad and Arnold Laver.
However, the vision has become blurred by tricky trading conditions. National Timber Group鈥檚 most recent accounts, for the year to 31st December 2023, show a pre-tax loss of 拢6.3m on turnover of 拢197m.
Following a financial restructuring, in January 2025 the ultimate controlling party became Sylvan Span, a limited liability company registered in Delaware USA and managed by Pricoa Private Capital. (Pricoa had previously provided financing for acquisitions.)聽
Mark Dixon joined the company as chief executive in June this year from Rubix UK (formerly Brammer UK) to turn it around.
Last week notices of intent to appoint administrators were filed for every part of the group.
In a statement on the latest state of difficulties, Dixon said: "Like many other businesses in the sector, National Timber Group has been experiencing difficult trading conditions and liquidity challenges for some time.
"In response, the directors have been actively exploring options to stabilise and recapitalise the business.
"These efforts have included implementing cost reduction measures, seeking additional funding and considering the potential sale of some or all of the business.
"This period has inevitably caused disruption, leading to uncertainty for employees, customers and suppliers.
"National Timber Group is now in advanced discussions with an interested party regarding the sale of a substantial part of the business, and also with other potential funding partners.
"To provide a period of stability during this process, notices of intention to appoint administrators have been filed in respect of each entity within the group.
"As a result, interim moratoriums are now in place, preventing enforcement action from creditors.
"This measure allows the group time to continue discussions with the interested party and to explore any other options that may be in the best interests of the business and its stakeholders.
"It is important to note that the group is not in administration at this time.
"Further updates will be provided as we progress through this period, with additional developments shared when possible."
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