Monday, April 22, 2024

Hull timber merchant sold

Hull timber merchant, Timber Angel Limited, has been sold out of administration.

The company had experienced cashflow difficulties as a result of temporary disruption at one of its principal suppliers. After assessing their options, the directors took the decision to seek the appointment of administrators.

Immediately following the appointment of James Clark and Howard Smith from Interpath Advisory as joint administrators on 9 January 2023, they concluded a sale of the Timber Angel Limited business and assets to Hull-based N.R.Burnett Limited.

The transaction sees nine employees of Timber Angel transfer to the purchaser.

James Clark, Managing Director at Interpath Advisory and joint administrator, said: “Unfortunately, Timber Angel was significantly impacted by issues affecting one of its key suppliers. We are therefore pleased to have been able to safeguard the future of the business and wish the new owners and the employees all the very best for the future.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news