21.01.2011

Bryn Thomas in administration

UK-based crane rental company Bryn Thomas Cane Hire Ltd has appointed Manchester-based BDO as administrator. The appointment appears to follow a threat of legal action taken by a supplier looking to collect on a debt, The administration order was applied for last Thursday, January 13th and confirmed yesterday.

The company appears to have been struggling to pay its creditors for some time and successfully fought off a winding up petition as long ago as 2009.
The company’s two directors Dylan and Janus Thomas set up new companies last year.
In November Bryn Thomas Cranes Ltd and Bryn Thomas Rail Ltd were established with the same directors as the company in adminstration. Earlier in the year Janus Thomas set up two companies with the name BT Northwest, both of which name Mark Beck as a second director.

Bryn Thomas Crane Hire is listed as a subsidiary of Bryn Thomas Holdings which is in turn owned by founder Bryn Thomas - Janus and Dylan's father.

Bryn Thomas Crane Hire was founded in 1979 in Flint, North Wales and has grown steadily over the years, covering a wider and wider territory as the company’s fleet grew and it added larger cranes. In recent years a good deal of its business came from the North West England including Merseyside. Its largest crane is a 2004 Grove GMK 7450.

Bryn Thomas is listed as the 26th largest crane hire company in the UK and Ireland according to the 2010 Cranes & Access survey, with 24 mobile cranes, two mini crawlers and four mobile tower cranes. The company’s locations appear to vary. According to its website it currently has branches in Liverpool,
Manchester and a heavy crane division in London. Its Facebook entry suggests a Plymouth location and talks of opening a new depot in Warrington, Greater Manchester, later this month.

We have tried to reach Dylan and Janus Thomas this morning by telephone and email but have so far failed to get any response from them. As soon as we do we will add an update to this bulletin.

The joint administrators at BDO are: Dermot Power and Patrick Lannagan. A press statement is currently being prepared.


Vertikal Comment

Most UK crane hire companies had a very tough time last year, both with slower business in the first half, compounded by weakening rates. The situation was exasperated by several of banks getting very aggressive with their crane customers.

Most of them did see a pick up as 2010 progressed and rates even began to recover, the exceptional weather at the end of November and early December was however a major setback, which applied even more pressure.

With several companies desperately short of cash, those that do not manage their debtors and creditors well were sure to suffer. An angry creditor who feels he has nothing to lose can be the straw that breaks the camel’s back.

To make it worse it is usually a small creditor that does the deed… they have nothing much to lose and will opt for satisfaction, if they feel they are being messed about.

We do not know what happened in this case, but a quick look at the company’s credit records suggest that it may have a fair few disgruntled creditors?

The Bryn Thomas name and reputation is a strong brand in the UK crane hire industry and is likely to survive in some form or other. Hopefully not with the directors picking up the assets for a song and leaving the creditors to stew.