New Zealand based rental company Tower Cranes NZ has gone into administration and appointed a receiver.
The company was hit badly by the recent failure of Ebert Construction, leaving it with an unpaid debt of $300,000. Lara Bennett of PwC as been appointed as the official receiver.
Tower Cranes NZ is based in Auckland and runs both tower cranes and a growing fleet of All Terrain cranes. It is prepared to send cranes wherever they are needs and has even taken on overseas contracts. In addition to the bad debt, one of the company’s cranes was stuck on an Ebert site cutting off its revenue earning potential.
The company has around 90 to 100 employees and is founded, owned and managed by Julian Oxborough.