Tsar Timber Distribution (UK) Ltd went into liquidation on August 14 with the liquidators citing the market downturn as the cause.
Rumours had been circulating in the trade that the Goole-based company, which handled lumber, plywood and mill work and was one of the bigger Russian importers, had ceased operations. Calls to its premises were unanswered.
The company was also mentioned in a report in the Daily Telegaph on August 13 on HM Revenue and Customs’ decision to impose backdated port rate bills on port businesses. It said Tsar was one of the businesses badly affected and that, facing a backdated rates bill of £87,000 per annum for the last four years, it had told its dozen-strong workforce that it could not continue trading.
However, joint liquidators Mark Newman and Vince Green of Vantis Business Recovery Services, stated that Tsar went into liquidation “following the loss of some customers and as a result of the current economic downturn”.
In a later statement, Vantis said that Tsar had ceased trading.
For more information contact Mr Newman at Vantis on 01732 378680.
