From the review of group trading activities, the trading business of TFC Supplies Limited is no longer seen as core to the group. As the timber market has become increasingly competitive, we have decided to exit the market and focus on the continued success of our larger businesses within the group.
TFC Supplies Limited is therefore being wound down and closed in a normal trading fashion. It is not going into administration or liquidation. Going forward, the group will outsource timber orders for their other businesses.
All suppliers will be paid on the agreed terms and we expect the same from our customers. We will work with our suppliers and customers on all orders received and placed to ensure they are processed in the normal way. We will work with suppliers to return stock for a credit wherever we can.
The trading assets will continue to be managed and sold from the site at Cotes Heath until all assets are sold.
This process will take several months, so please continue to communicate as before with Alec Fowler at the Cotes Heath site by phone or email.