6 | UK News
Silva Timber Products in administration after “perfect storm” hit sales
Above: The premises of Silva Timber in Widnes
Timber cladding and decking specialist supplier Silva Timber Products went into administration on October 31 after suffering a “perfect storm” of factors which hit sales over the past year.
Anthony Collier and Richard Goodall of specialist business advisory firm FRP were appointed as joint administrators of Widnes-based Silva Timber Products Ltd, which also supplies fencing, roof shingles and other products. Most of the 30 staff were made redundant.
Silva managing director Nick Taylor had attempted to get new investment into the firm, making an appeal on the company’s web blog.
“A ‘perfect storm’ of the post-Covid slump, the invasion of Ukraine putting an end to Siberian larch supply, and rising interest rates have contributed to an unsustainably low level of sales over the past year,” wrote Mr Taylor. He had predicted growth to return in mid-2024, forecasting a cautious sales figure of £5m in 2024 and much of the debt paid off by early 2025. Accounts posted at Companies House show for the financial year 2022 the company owed £2.37m to creditors. Ultimately, no cash injection was forthcoming and administrators closed the business and urged anybody with an
interest in the business or its assets to get in touch as soon as possible. Administrators said 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 Ltd 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 Ltd. “Unfortunately, mounting external pressures, most notably reduced sales and rising costs, resulted in the business being unable to meet its financial obligations.” The asset sale will be led by Hilco Global, please direct all enquiries to:
hilco@hilcoglobal.eu
Scott Pallets brings pressboard pallets to the UK market
comparatively lightweight, taking up significantly less storage and transportation space than conventional Euro pallets. This could increase business efficiency through lower transport times and costs, it said.
Above: Scott Pallets is launching pressboard pallets in the UK
Scott Pallets is collaborating with European timber processing giant binderholz to offer an alternative composite wood pressed pallet to the UK market.
The company said the move meant it could now supply UK businesses with pressboard pallets in a range of formats, offering an alternative pallet solution for storage and transportation requirements. As a member of BSW Group, Scott Pallets has access to the innovative product through its owner business, binderholz. Pressboard pallets are made from sawdust
and reprocessed, recycled wood chips, then compression moulded under high temperatures to form a dimensionally diverse and accurate wood composite product. This provides a natural wood finish with a clean and smooth surface and hard, finished edges.
Already preferred by global brands such as Bosch, Siemens and Swarovski, pressboard pallets are designed to offer a range of benefits. Scott Pallets says the innovative and compact design is stackable and
TTJ | November/December 2023 |
www.ttjonline.com
With a number of formats and dimensions on offer, Scott said businesses could also be confident in supply, with excellent availability across all formats, and the ability to be reused several times. Due to their recycled wood content, these pallets contribute to the sustainable use of wood as a raw material, and if damaged, they can be recycled and fed back into the production process.
Classified as processed wood, pressboard pallets are suitable for worldwide exports, according to ISPM15.
• BSW Group has announced a rebrand for Scott Pallets, following its acquisition of the company nearly a year ago. The refresh is a continuation of the Scott brand, with the logo falling in line with BSW Group’s corporate identity.
UK News
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