Andy Wood and Christopher White of The P&A Partnership, Sheffield, have today (25 March) been appointed joint administrators of Nottingham timber company F W Mason & Sons Ltd.
The family business, founded in 1929 and based on a 12 acre site at Colwick, is one of the UK’s leading manufacturers and distributors of timber products.
Mr Wood confirmed that the administrators will carry on trading the business. He said: “There is a good core business and we believe that by continuing to trade we have the best chance of finding a buyer.
“The company had been hit by a number of factors, including rising fuel costs, lack of finance to modernise the business and loss of long standing customers to the multiples.”
The P&A Partnership is a leading specialist business turnaround and insolvency firm with offices across the UK and in London. Their support for businesses includes restructuring, finance brokering, debt collection and selling assets.