Part of a 52 year old family run timber company, CR Taylor (Timber) Ltd, has been sold to a new company, Taylor’s Timber Centre Ltd, securing the jobs of its five staff at the Thornton Road site.
One of the UK’s leading independent timber engineering companies, the long-established business supplied architects, house builders, merchants and contractors. Its products, which are sourced from sustainable, well managed forests and certified FSC or PEFC, have featured on Channel 4’s ‘Grand Designs’. As well as its headquarters in the old Denholme railway station yard, the company also had an outlet in central Bradford in Thornton Road.
The company was placed in the hands of joint administrators Paul Whitwam and Gary Blackburn of BWC Business Solutions on 6 July. The administrators immediately concluded the sale of the company’s business and assets based at the Thornton Road site to Taylor’s Timber Centre Ltd, a new company formed by the previous management who were advised by Clarion. Funding was provided by Leeds-based Reward Capital LLP.
Joint administrator Paul Whitwam of BWC commented: “With a 50 year plus heritage, CR Taylor (Timber) Ltd established a strong reputation within the industry, serving house builders and contractors throughout the country. Unfortunately, the company has become another victim of the recession which has hit the construction sector particularly hard.
“By concluding a sale for the part of the business which operated from the Thornton Road site to the former management, which has the experience and commitment to take the business forward, we are confident that, not only have we secured the best possible return for creditors, but also the future of the five-strong workforce at that site.”
Our corporate recovery team who advised the management of Taylor’s Timber Centre Ltd added: “It’s satisfying to see that, working closely with the administrators, our prompt action has ensured the survival of at least part of the business.”
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