Hardwood importer and distributor Spa & Warwick Timber Co Ltd is closing down after 27 years in business.
Managing director Ronnie Young, who owns the Warwick premises, said BMW had “made me an offer I can’t refuse” to lease the property.
The 13 staff, who are in their sixties, will receive redundancy payments.
Mr Young established the high quality hardwoods company in 1982. Prestige clients it has supplied include Buckingham Palace, Tate Modern, Nicky Clarke’s hairdressing salons, Harrods, George Michael and a conservatory for comedian Jasper Carrott.
While business had slowed during the recession, Mr Young said the company was still profitable.
“I’ve produced 27 balance sheets and 27 profits; no break evens and no losses. That’s something of an achievement,” he said.
The company will close on September 29 but Mr Young expects he will continue you in the timber trade.
“I’m not retiring. My heart is still in the trade,” he said.
