Teneo Financial Advisory is handling the administration of Wellingborough-based RML. About 140 staff are believed to have been made redundant across the multi-site business.
Wyckham Blackwell and The Keystone Group have announced their joint acquisition of the assets of the RML Ebbw Vale business.
Going forward the branch will trade as Crendon Timber Frame and will be part of Crendon Timber Engineering Ltd.
“We are looking forward to working with our new team at Crendon Timber Frame to develop a successful business,” said Stephen Thompstone, Wyckham Blackwell Group CEO stated,
“We will invest in improving their premises, machinery, transport and processes, as we integrate with our established Crendon Timber Engineering branch network.”
RML was started in 1986 by Tim Robinson as a division of Hilton Timber and had steadily expanded.
Its most recently available accounts for the year ended September 30, 2021, showed a turnover of £35.3m and an operating profit of £904,570.
At the time the company said it had been navigating the pandemic challenge successfully and showed it had recovered from the financial scarring suffered in 2020, predicting the business recovery would continue to manifest over the next 36 months.
