Timber giant files administration notice
AI Article Summary
National Timber Group England, one of the country's largest timber suppliers, has filed a notice to appoint administrators. This move provides the company with protection from creditors while it seeks restructuring options. The England division, which includes well-known brands like Arnold Laver and operates in areas such as Alfreton and Nottingham, has over 1,000 employees. The company's latest accounts report a turnover of nearly £200 million in 2023, but also show pre-tax losses of £6.3 million.
What This Means for Canadian Contractors
For Canadian builders, this situation illustrates the importance of monitoring the financial health of key suppliers. With potential supply disruptions, builders may need to reassess their supply chain plans to avoid delays. This project shows how critical it is to have multiple supply partners to mitigate risks associated with single-source suppliers.
