Thu, 26 Jul 2012 | BUSINESS SALE
CR Taylor (Timber), a 52-year-old family-run timber business, has been sold to newly incorporated company Taylor's Timber Centre Ltd.
The independent timber engineering business provides architects, merchants, contractors and property builders with raw materials sourced from sustainable forests and certified FSC or PEFC.
It was placed into administration under the auspices of Paul Whitwam and Gary Blackburn of BWC Business Solutions on 6 July this year, but a sale of the company's business and assets based on the Thornton Road site to Taylor's Timber Centre Ltd was completed immediately, Insider Media reported.
Previous management staff formed the new company on the advice of Helen Bates of Leeds law firm Clarion, while funding was provided by Leeds-based Reward Capital LLP.
Joint administrator Mr Whitwam commented: “With a 50-year plus heritage, CR Taylor (Timber) Ltd established a strong reputation within the industry, serving house builders and contractors throughout the country.
“Unfortunately, the company has become another victim of the recession which has hit the construction sector particularly hard.”
He added that the sale will allow the business to move forward and will secure the “best possible return for creditors” as well as “the future of the five-strong workforce at that site”.
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