27.02.2014
Terranova Cranes to liquidate
UK crane rental company Terranova Cranes Ltd has been placed into voluntary liquidation.
The Camberley, Surrey-based company appointed London liquidator Baker Tilly Restructuring and Recovery as liquidator on 16th January 2014. Any creditors owed monies by Terranova Cranes must register the amount by tomorrow, 28th February with the liquidators at 25 Farringdon Street, London EC4A 4BB.
The crane company is 100 percent owned by Jean Glover and has two directors Alexander Nicholas Glover and Alexander Richard Glover (snr) - both have encountered similar problems before. The original Terranova (Crane Hire) Ltd was formed in 1979 and failed in 1992. Another Terranova crane company Terranova Lifting was set up and that morphed in 2010 into Terranova Cranes Ltd.
Terranova is still trading under the new name of Terranova Crane Sales Ltd which was formed by both Glovers at the end of October 2013 and again has Jean Glover as sole shareholder.
The liquidator refused to answer any questions about the company and we are awaiting a response from Alex Glover (jnr) regarding the plans for the new business.
ghost
Fully concur with Lewis - enough is enough. They appeared to do well in the mid 2000s when they had some bigger kit and seemed to offer a service comparable with bigger companies - but you can't base company growth on the back of re-hires and poor credit management. Chase the people that owe you money - lack of cash flow is the biggest death knell for businesses of any kind and build up your own customer base to increase your profit margins.
Lewis Major
Time to give up boys, thoughts are with the drivers as they always had good operators especially before out of Reading most have switched to Southern.