Duchy Timber, comprising a sawmill in Lostwithiel, formerly owned by the Prince of Wales, and two merchant outlets, was sold two years ago by Mr High to David Adam, the former managing director of Launceston landscaping business.
The company, which had a turnover of £4.5m in 2011, got into financial difficulties and was placed into administration on November 4. Mr High, understood to be a major creditor of Duchy Timber, retakes ownership of a business which he helped build up over many years.
The merchant branches in Ottery St Mary and Torquay come under the Payne Timber brand. The Lostwithiel mill has extensive machining, treatment and kilning facilities, producing sawn and machined timber, fencing, outdoor furniture, decking, flooring, gates and cladding.
