The 13-acre Denholme site has been closed and all staff made redundant, but the central Bradford merchanting business in Thornton Road has been bought back by former chairman Charles Taylor, securing five jobs there.
As reported previously by TTJ, the company, which had significant I-joist and roof truss manufacturing operations at the Denholme site, called in administrators from BWC Business Solutions on July 6.
Administrators are looking for buyers for the business, assets and customer lists.
CR Taylor reported earlier this year that roof truss sales had increased by 100% in 2011, while I-joists sales had grown by 15%, with a further 80% growth expected in 2012.
Paul Whitham from BWC said CR Taylor directors had sought buyers for the company’s business and assets in early June but without success.
"In late June, after exhausting all other financing possibilities, the directors concluded that the company’s business was no longer viable based on the existing level of demand and there was no realistic prospect of trading out of its current difficulties," he said.
Mr Whitham said the company lost more than 40% of sales in 2007 following the property market downturn, with further market declines in 2008-2011 and housebuilders driving down material costs and squeezing margins further.
Mr Taylor told TTJ he couldn’t make any comments as the administrators were handling the administration of CR Taylor. But he said he would make a statement in the future about the new business in Thornton Road.
