BPI, an asset disposal specialist, has announced the liquidation sale of the entire assets of timber merchants N R Burnett Ltd.

N R Burnett Ltd was established in 1941. The assets being offered for sale have all been well maintained and are available in the online auction following the company's recent closure. 

In January 2023, Hull-based N.R.Burnett had purchased a neighbouring company which had just gone into administration,Timber Angel Ltd, Nine employees had been transferred to the new owner as part of the deal. But administrators were in turn appointed for N.R. Burnett in September this year.

In accounts for the year to 30 September 2023, the company’s fixed assets were valued at £321,466 and current assets at approximately £1.6 million. However, its net liabilities totalled more than £343,000.

The assets going on sale include woodworking machinery, vehicles, timber stocks, tools and miscellaneous items. The sale is to be completed by 31 October.

Richard Travis, Industrial Specialist at BPI, said: "This sale presents an opportunity to acquire high-quality, well-maintained pieces of woodworking machinery. N R Burnett has been a cornerstone of the timber industry for over eight decades."

"The closure of a company with such a rich history as N R Burnett Ltd is bittersweet, but we're excited to see these quality assets find new uses where they'll continue to create beautiful woodwork."