Crane Rental Firm Collapses

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An Aberdeenshire-based crane rental firm has collapsed after suffering from cash flow difficulties.

Whyte Crane Hire Ltd provided lifting services and mobile crane hire to customers across a range of sectors, including oil and gas.

Established in 2001 by the Whyte family, the company operated from bases in Aberdeen and Grangemouth.

Following the appointment of administrators from KPMG, all 11 employees were made redundant.

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A separate company run by the Whyte family - Whyte Crane Services Ltd - will continue to operate and is unaffected by the administration.

Administrators said that Whyte Crane Hire's directors had "injected personal funds" in order to address declining turnover and profitability, but trading performance deteriorated further.

Joint administrator Blair Nimmo said: "Despite the extensive efforts of the Whyte family, Whyte Crane Hire Limited was unable to continue trading in light of significant liabilities and cash flow difficulties, having been affected by the challenging market conditions in the Scottish construction and oil and gas sectors."

Our intention of sharing this News is take care of your business by exactly understanding the market situation and don't overtrade and wait for correction of the market befor taking any big step.

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