Some 148 “walking wounded” companies in the UK timber products industry need to retreat and re-group, according to Plimsoll Publishing Ltd’s latest industry analysis.

The ‘Battle Plans’ report found a record number of businesses in the industry’s top 1,000 companies experiencing declining sales and losing money.

It says struggling companies should cut back on all non-profit making parts of their business, reduce debt levels by at least 33% and reduce the workforce by about 18%.