Fri, 04 Nov 2011 | ADMINISTRATION
Administrators for Chesterfield-based children's outdoor play equipment manufacturer, Timberline, have embarked on an intensive search for a buyer for the company, after it was forced out of business.
Timberline, which has been designing and constructing hardy playgrounds across the country for more than 20 years, called in administrators from Hart Shaw on Wednesday, November 2, after succumbing to a sharp downturn in orders.
The company operates from headquarters and two separate factories on Chesterfield's Foxwood Industrial Estate.
One of the joint administrators, Hart Shaw's Christopher Brown, said that the company had been dealt a decisive blow by the drying up of contracts from the education sector, due to public spending cut backs.
Brown added that prior to the economic downturn, however, Timberline had been at a strong point where it had an annual turnover of around £9 million, so they would be looking to keep the business running while the search is carried out, and sell it on as a going concern.
"The directors reacted quickly to the changing circumstances of the company and sought expert professional advice," Brown explained. "The administrators are continuing to trade the business whist it is marketed for sale as a going concern."
A leading dental practice situated in the heart of London, providing exceptional dental care in a comfortable and welcoming environment.
LEASEHOLD
A leading internet-based provider of customisable and curated beauty box services. Over the last decade, the business has evolved from a premier subscription service to a leading internet-based provider of highly attractive and rapidly expanding beau...
WEB-BASED
Discover a leading innovator in data centre solutions, recognised as a top supplier both in the UK and internationally, with a robust consultancy arm contributing to a growing turnover.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.