Based in Widnes, Cheshire, the business had 30 employees and supplied timber products, offering a range of specialised timber, composite decking, cladding, fencing and roof shingles.
The company has faced challenging trading conditions primarily due to a fall in demand, which has resulted in cash flow difficulties and impacted its ability to operate. Unfortunately, the company ceased trading and was placed into administration; the majority of employees made redundant shortly following appointment.
A small number of employees have temporarily been retained to help the joint administrators prepare the assets for sale.
“Silva Timber Products Limited has been one of the UK’s leading importers of speciality timber products, sourced from the world’s most reputable sawmills for more than 23 years,” said Richard Goodall, restructuring advisory director at FRP and joint administrator of Silva Timber Products Limited.
“Unfortunately, mounting external pressures, most notably reduced sales and rising costs, resulted in the business being unable to meet its financial obligations.
“Regrettably, this meant staff were made redundant on the joint administrators’ appointment. We are supporting the employees affected to file claims with the Redundancy Payments Services.
“We would encourage any parties with an interest in acquiring the business or its assets to make contact with us as soon as possible.”
The asset sale will be led by Hilco Global, please direct all enquiries to hilco@hilcoglobal.eu
