15.11.2012

CLE appoints administrator

UK based crane and access rental company Compact Lifting Equipment has appointed an administrator.

The company which is based in Hull, is owned by Peter Hird Junior and was founded in February 2008. It initially sold and serviced Jekko cranes in the UK and overseas but in 2009 entered the rental market follow Hirds split with the original Hird family company. In 2011 the sales business was transferred to Compact Lifting Equipment (Worldwide sales)Ltd which is unaffected by the administration.

The company has been hit by a number of bad debts, the largest of which was Petroplus and the Coryton oil refinery in Essex, which went into administration in January. Since then the company has attempted to trade out if it but finally called in the administrators this week. The formal paperwork was signed this morning.

The administrator is looking at the possibility to sell the business or organise a possible rescue, the creditors are thought to be in the region of £90,000.