200-year-old timber firm enters administration

An 200-year-old East Midlands importer and distributor of timber is up for sale after being placed into administration.

Snows Timber, which has a factory in Huthwaite, Nottinghamshire and a sales office in Towcester, Northamptonshire, slipped into administration on 18 November when Matthew Haw and Matthew Wild of RSM Restructuring Advisory were called in to oversee the day-to-day running of the firm.

The company underwent a management buyout in March of this year, hailing “the start of of an exciting future”. The MBO was led by Ian Church, managing director, alongside Craig Willoughby, supply chain director and Adam Cray, finance director.

In February, the firm sold ts Glastonbury head office and moved its sales team to a new HQ in Towcester. As well as its Huthwaite distribution centre, it also has a further facility in Andover.

In its latest available accounts for the year-ending 30 April, Snows Timber said it was experiencing a “challenging market”. During that year, it closed in Dudley timber processing facility, and that it considered the MBO as “the best opportunity to secure the long term future of the company”.

That year, the firm made a profit of £351,648 – up from a loss of £1.4m in 2017 – on revenues of £40.2m.

Snows, at the time, employed 206 people.

A statement from administrators reads: “The joint administrators are in the process of selling the business and assets of the company and invite interested parties to contact them