Silva Timber Products Limited - Administration

Silva Timber Products Limited, a Widnes, Cheshire-based timber company, entered administration on 31 October. Anthony Collier and Richard Goodall of FRP were appointed joint administrators, and said that mounting external pressures, most notably reduced sales and rising costs, resulted in the business being unable to meet its financial obligations. The company’s approximately 30 employees have been made redundant. The joint administrators have retained Hilco Global to assist with a sale of the company’s assets. Clydesdale Bank has a registered charge against the company.