Sheffield United: Boss of Blades' sponsor breaks silence on administration fears as 1,300 jobs hang in balance
The boss of Sheffield United sponsor Arnold Laver says they are close to selling part of the business to avoid administration.
Mark Dixon, CEO of National Timber Group, which owns Arnold Laver, said they were in “advanced discussion” over the sale of a “substantial part” of the business and also with other potential funding partners.
He spoke out after NTG filed a notice of intention to appoint an administrator to gain temporary protection from creditors while it investigates restructuring and rescue options.
National Timber Group England Ltd, based on Bramall Lane, employs 1,300 at 60 locations and includes Arnold Laver, National Timber Systems, SV Timber and NORclad.
Arnold Laver sponsors the South Stand, it was the club's primary sponsor from 1985 until 1995.
Mr Dixon said It was important to note the Group was not in administration.
And the future of sponsorship deals would be decided once the future of the business was known in “the next few weeks.”
He added: “Like many other businesses in the sector, National Timber Group has been experiencing difficult trading conditions and liquidity challenges for some time.
“In response, the directors have been actively exploring options to stabilise and recapitalise the business.
“These efforts have included implementing cost reduction measures, seeking additional funding, and considering the potential sale of some or all of the business.
“This period has inevitably caused disruption, leading to uncertainty for employees, customers, and suppliers.
“NTG is now in advanced discussions with an interested party regarding the sale of a substantial part of the business; and also with other potential funding partners.
“To provide a period of stability during this process, notices of intention to appoint administrators have been filed in respect of each entity within the Group. As a result, interim moratoriums are now in place, preventing enforcement action from creditors.
“This measure allows the Group time to continue discussions with the interested party and to explore any other options that may be in the best interests of the business and its stakeholders.”