Administrators are continuing the process of winding down UCM Timber plc and its associated companies.
“The companies had very limited stock holdings, which is being managed and the necessary parties contacted regarding ownership and sale,” Jason Godefroy, joint administrator at Duff & Phelps, told TTJ.
“Should any creditors of the company have concerns regarding the administration process, we urge them to contact our offices to discuss any issues they may have.”
UCM Timber plc and its associated companies Balfour Timber Ltd, Hollanden Timber Ltd and Churchill & Sim Group Ltd went into administration on February 1 (TTJ February 4/11, 2012), with all employees being made redundant.
One contact in the trade said the failure of UCM group represented the “end of a dynasty”. “You will not find groups of that size again,” he said.
“UCM was a good company that stood for the good things in the trade,” said John White, chief executive of The Timber Trade Federation.
“The name is synonymous with what many will remember as a golden age for the timber trade. I was sad to see its demise.”
UCM Timber (Specialties) Ltd was not placed into administration and continues to trade.
Mr Godefroy said UCM Timber (Specialities) Ltd was a separate entity to any of the companies to which the joint administrators were appointed.
TTJ understands that the specialties business has a separate funding arrangement from the UCM group and is in profit.
