Two of the oldest hardwood importers/merchants in the timber trade, London-based Sydney Priday & Snewin Ltd and M&J Reuben Ltd are winding up.
Announcing the “sad” decision to close Priday’s timber business from February 27, chairman John Priday said the company (founded in 1880) had been trading at a loss since the early 1990s and he “could not see the situation improving in the future”. Up to 12 staff are being made redundant but Mr Priday will keep the two-acre Stamford Hill site and the company name to run a new storage venture.
“The company has been trading at a loss since the early 1990s and we could not see the situation improving in the future” |
Priday’s chairman John Priday |
East London-based M&J Reuben Ltd, which started in 1895, is winding up following managing director David Reuben’s decision to retire.