Alvarez & Marsal

The UK’s largest independent timber distribution and processing group, National Timber Group, has entered administration, resulting in the immediate closure of six Scottish sites and the loss of 169 jobs across the country.

Administrators overseeing the liquidation of Perthshire-based Hadden Construction Limited have revealed that unsecured creditors, owed millions, are unlikely to receive any funds.

Perthshire housebuilder Hadden Construction left hundreds of subcontractors and suppliers almost £7 million short when it collapsed into administration earlier this year.

Perthshire housebuilder Hadden Construction has fallen into administration with 66 members of staff being made redundant. Work on active sites including affordable housing and supported living apartment developments will cease pending a review of works in progress.