Headquartered in Tacoma, Washington, Northwest Hardwoods (“NWH” or the “Company”) is the world’s leading manufacturer and distributor of North American hardwood lumber and is recognized as the “Gold Standard” in its industry. We began in the Pacific Northwest with a single alder mill in 1967. Northwest Hardwoods serves customers in … However, the company elected to not make this payment at this time and has entered into a 30 day grace period. Among the largest unsecured claims are: Over the years, the company has steadily grown and expanded to become one of the largest manufacturers of hardwood lumber in North America. For All Sales Inquires: 800-553-5345 WEWORK COMPANIES: S&P Affirms ‘CCC+’ ICR; Outlook Negative, GLOBAL EAGLE: Mgt. S&P now views Northwest Hardwoods’ liquidity as weak because its senior credit facility and notes will both come due in the next 12 months and there is a material deficit in the company’s sources of liquidity relative to its uses. Northwest Hardwoods General Information Description. “In addition, our view also incorporates that Northwest Hardwoods’ entire capital structure, including its senior secured credit facility and senior notes, come due in the next 12 months,” the rating agency said. Salaries posted anonymously by Northwest Hardwoods employees. Northwest Hardwoods, Tacoma, Washington. In its bankruptcy filing, Northwest Hardwoods, Inc., claimed $100 to $500 million in estimated liabilities.. However, the company has been able to generate some positive cashflows driven primarily by cost curtailment actions and liquidation of inventories and receivables. Nov 23: 1 Petition Chapter 11 Voluntary Petition . Moody's Investors Service 06 Feb 2015 Rating Action Moody's affirms Northwest Hardwoods' B2 CFR; rating outlook stable. Softening demand and lumber pricing, coupled with weak economic activity in China have affected the company’s performance over the last 18-24 months. NWH is also one of North America’s largest importers of tropical hardwood lumber and hardwood plywood panels and operates a global distribution network to deliver a full complement of hardwood products to over 1,660 customers worldwide. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. At the same time, S&P lowered its issue-level rating on the company’s senior secured notes to ‘D’ from ‘CCC-’. Fee Amount $1717. Therefore, we are lowering our issuer credit rating on Northwest Hardwoods to ‘SD’ and our issue-level rating on its senior secured notes to ‘D’,” S&P said. Says Going Concern Doubt Not Yet Alleviated, Turnarounds & Workouts Annual Single-User Subscription. As the premier provider in the industry, Northwest offers the highest quality and most innovative products, best service, and … We are the largest manufacturer and global supplier of hardwood lumber. Filed by Northwest Hardwoods, Inc.. (Beach, Sean) (Entered: 11/23/2020) Nov 23: 2 Affidavit/Declaration in Support of First Day Motion // Declaration of Nathan Jeppson in Support of the Debtors' Chapter 11 Petitions and Requests for First Day Relief Filed By Northwest Hardwoods, Inc. (Beach, Sean) (Entered: 11/23/2020) Salaries, reviews and more - all posted by employees working at Northwest Hardwoods. Manufacture domestically, source globally, deliver reliably. Northwest Hardwoods (NWH) has entered into a restructuring agreement with shareholders to help it recover $270 million in debt. TACOMA, Wash., Nov. 24, 2020 /PRNewswire/ -- On November 23, 2020, Northwest Hardwoods, Inc. and certain of its affiliates ("NWH" or the "Company") took … Northwest Hardwoods, Inc. (US:412418AA3) has 18 institutional owners and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). Revenue: $100 to $500 million (USD) Competitors: UNKNOWN. A free inside look at Northwest Hardwoods salary trends based on 16 salaries wages for 15 jobs at Northwest Hardwoods. Northwest Hardwoods, Inc. is located in Tacoma, WA, United States and is part of the Lumber & Plywood Product Manufacturing Industry. Together they have raised over 0 between their estimated 2.6K employees. NWH serves the repair and remodel, residential construction, consumer discretionary, industrial, and export markets. Over the past 12-18 months, the company has been adversely affected by weak lumber pricing and lower domestic and export demand, particularly from China (accounting for approximately 15%-20% of total revenues). Northwest Hardwoods, Tacoma, Washington. Manufacture domestically, source globally, deliver reliably. About Northwest Hardwoods. S&P will reassess its ratings upon future developments regarding interest payments or restructuring. Active, Closed, Whether an Organization is for profit or non-profit, Auto-generated name of transaction (e.g. The company is located in Tacoma, United States and has an estimated revenue and employee in the range of $50 to $500 million and 1001-5000 respectively. Our assumptions for 2018 EBITDA are less than originally expected, driven by higher log prices that squeezed gross margins by 230 basis points (bps) in the third quarter. Largest shareholders include . The kiln drying process establishes consistent dimensional stability and improves the boards’ visual characteristics and finish. Northwest Hardwoods is a manufacturer of high-quality hardwood lumber in North America. Incorporated in 1967, Northwest Hardwoods belongs to the Paper & Forest Products industry and specialises in Hardwood Lumber Products. Headquartered in Tacoma, Washington, Northwest Hardwoods (“NWH” or the “Company”) is the world’s leading manufacturer and distributor of North American hardwood lumber and is recognized as the “Gold Standard” in its industry. We rely on on-time and on-grade quality. Company converts hardwood logs into rough cut and kiln dried (“KD”) lumber, and then planes and sorts the lumber boards into an array of quality grades for appearance wood applications. Northwest Hardwoods Blog Northwest Hardwoods, Inc. and 3D Source Jointly Announce Major Industry Innovation to Solve Key Interior Design Challenge Tacoma, Washington - Northwest Hardwoods, Inc., a leading manufacturer of high quality hardwood lumber in North America, has teamed up with 3D Source, a provider of 3D interactive, animation, modeling and print services. Manufacturer and supplier of lumber products. Northwest Hardwoods, Inc. (US:412418AA3) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position … Northwest Hardwoods is a manufacturer of high-quality hardwood lumber in North America. We would consider such a debt restructuring to be distressed and tantamount to a default. Northwest Hardwoods is considered a large business with 5000 to 9999 square footage of space. NWH's revenue is the ranked 2nd among it's top 10 competitors. Northwest Hardwoods Inc., owned by private-equity firm Littlejohn & Co., on Friday said it reached an agreement on a financial restructuring that will reduce its debt by about $270 million. 20-13005). The COVID-19 outbreak in early 2020 has further dampened demand levels. On November 23, 2020, Northwest Hardwoods, Inc. of Tacoma, WA, a privately held lumber manufacturer with 20 production facilities in the western, glacial, and Appalachian regions of the United States, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. The top 10 competitors average 691. We expect continued weak performance for Northwest Hardwoods as demand remains depressed and pricing remains weak from the impact of COVID-19 on economic activity. Northwest Hardwoods is a Tacoma, Washington-based lumber manufacturer backed since 2014 by Littlejohn & Co. and CITIC Capital Partners. Northwest Hardwoods aims to be the market’s first choice based on its emphasis on sustainable forestry, customer communication, respect, and honesty. The Company offers 15 different lumber species, including alder, ash, basswood, birch, butternut, cherry, hickory, hard maple, Pacific Coast maple, soft maple, yellow poplar, red oak, white oak, walnut, and hemlock. Northwest Hardwoods has a reputation for being a highly versatile supplier amongst distributors, manufacturers and makers. Manufacture domestically, source globally, deliver reliably. NWH has 1,500 employees and is ranked 1st among it's top 10 competitors. It manufactures and sells over 30 North American species, such as cherry, hard maple, and yellow poplar. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. The downgrade on Northwest Hardwoods Inc. primarily reflects what we believe to be increasing refinancing risk, as well as subdued expectations for operating results in 2019. The semiannual interest payment on Northwest Hardwoods’ 7.5% senior secured notes was due on Aug. 1, 2020. "On November 23, Northwest Hardwoods and certain of … At our core, Northwest Hardwoods is a no-nonsense company in a no-nonsense business. What is Northwest Hardwoods’s Revenue? Today, we offer virtually every species and grade of commercially viable North American hardwood lumber. The company also imports and distributes exotic hardwood lumber, hardwood plywood panel products, and engineered wood components and sells remanufactured oriented strand board (OSB) and other engineered wood products. WhatsApp acquired by Facebook), World’s leading manufacturer and distributor of North American hardwood lumber, United States Real Estate Companies (Top 10K), Manufacturing Companies that Exited (Top 10K), Manufacturing Acquired Companies (Top 10K). The company offers wood pallet systems, hardwoods, exotic woods, and plywoods of multiple grades, thicknesses, widths, and lengths. TACOMA, Wash., Nov. 6, 2020 /PRNewswire/ -- Northwest Hardwoods, Inc. and certain of its affiliates ("NWH" or the "Company") announced today that the Company has entered into a … S&P Global Ratings lowered its issuer credit rating on U.S.-Based Northwest Hardwoods Inc. to ‘SD’ (selective default) from ‘CCC-’. 8.5K likes. We are the largest manufacturer and global supplier of hardwood lumber. And Matt McCall recently told InvestorPlace readers that analysts are bullish on the company’s future revenue:Analysts expect revenue to ring … Northwest Hardwoods’s revenue is $700 Million See what employees say about what it's like to work at Northwest Hardwoods. TACOMA, Wash. - Hardwood lumber giant Northwest Hardwoods has filed for Chapter 11 bankruptcy. No one knows hardwoods like Northwest Hardwoods. “While the company may have sufficient liquidity to make the August 1 interest payment, we think it is unlikely it will make the interest payment without pursuing some type of debt restructuring. Northwest Hardwoods, Inc. has 2000 total employees across all of its locations and generates $845.12 million in sales (USD). Northwest Hardwoods – Headquarters 1313 Broadway, Suite 300 Tacoma, WA 98402 253-568-6800. Northwest Hardwoods, Tacoma, Washington. The top 10 competitors average 237.3M. SEE OUR HARDWOODS Northwest Hardwoods began in the Pacific Northwest with a single alder mill. The Company offers hardwood, plywood and lumber products. Northwest Hardwoods, Inc. manufactures and distributes wood products. Northwest Hardwoods is the largest United States manufacturer of North American hardwood lumber based on sawmill capacity. Located in Marlinton, WV, Northwest Hardwoods is in the lumber plywood millwork & wood panels wholesale business. For All Sales Inquires: 800-553-5345 Also the company is in discussions with its largest noteholders regarding a consensual restructuring. NWH’s lumber is a primary material used in the manufacturing of a multitude of products including: kitchen cabinets, hardwood flooring, molding, millwork, commercial interiors, furniture, boat and recreational vehicle interiors, musical instruments, railroad ties, and pallets. Northwest Hardwoods acquired by Littlejohn & Co, Name of the organization that made the acquisition, Descriptive keyword for an Organization (e.g. Operating for 10 or more years, they have an annual income of $10 to 50 million. It manufactures and sells over 30 North American species, such as cherry, hard maple, and yellow poplar. Northwest Hardwoods, Inc., (HQ: Tacoma, WA), filed a voluntary Chapter 11 bankruptcy petition on November 23, 2020. The company operates through a network of sawmills, lumber concentration and dry kiln yards, merchandising log yards, remanufacturing plants, and sales offices in the U.S., Canada, China, … We are the largest manufacturer and global supplier of hardwood lumber. Northwest Hardwoods had debt of US$ 270 million. The. “We believe it is unlikely that Northwest Hardwoods will make the August 1 interest payment due on its senior secured notes absent a debt restructuring,” S&P said. 8.4K likes. Company Description. 8.5K likes. Northwest Hardwoods, Inc. manufactures kiln-dried hardwood lumber, as well as pallet shook and railroad ties to the furniture, cabinet, and millwork industries. Northwest Hardwoods – Headquarters 1313 Broadway, Suite 300 Tacoma, WA 98402 253-568-6800. Northwest Hardwoods, Inc.: Northwest Hardwoods’ downsizing of its 7.5% senior secured notes due 2021 does not change ratings. 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