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Whyte Crane Hire Limited in administration

Whyte Crane Hire Limited in administration

Blair Nimmo and Alistair McAlinden of KPMG LLP were appointed as Joint Administrators of White Crane Hire Limited.

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Blair Nimmo and Alistair McAlinden of KPMG LLP were appointed as Joint Administrators of Whyte Crane Hire Limited (“the Company”) on 18 February 2020.

Established in 2001 by the Whyte family, Whyte Crane Hire Limited provided lifting services and mobile crane hire to customers across a range of business sectors including oil and gas. The Company operates from two leased premises, located in Aberdeen and in Grangemouth.
Historically profitable, the business has suffered from declining turnover and profitability in recent years as it faced increasing competition and challenges in securing work at a sufficient margin to cover the high fixed costs of the crane fleet.

The directors sought to address these financial issues and injected personal funds in order to meet critical payments. Despite these actions, trading performance deteriorated further and the resultant losses and cash flow pressures meant the directors ultimately concluded that the business could not continue to trade and placed it into administration.

As a result of the administration appointment, all 11 employees have been made redundant.
A separate company operated by the Whyte family, Whyte Crane Services Limited, will continue to operate and is unaffected by the administration.

Blair Nimmo, Joint Administrator and KPMG’s UK Head of Restructuring, said:

“Despite the extensive efforts of the Whyte family, Whyte Crane Hire Limited was unable to continue trading in light of significant liabilities and cashflow difficulties, having been affected by the challenging market conditions in the Scottish construction and oil and gas sectors. This has led to the redundancies which have been announced. We will be working closely with Skills Development Scotland via their PACE team to support all affected employees during this difficult time.”

ENDS

Notes to Editors:

Pictured: Blair Nimmo, Head of Restructuring, KPMG UK

For more information on the route go to:

For media queries, please contact:

Brian O’Neill, Corporate Communications Manager

T: 07823 668 689

E: Brian.O’Neill@kpmg.co.uk 

About KPMG in the UK

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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