WHYTE Crane Hire has gone into administration, resulting in the loss of eleven jobs.
Blair Nimmo and Alistair McAlinden of KPMG LLP have been appointed as joint administrators of the company, which operates from two premises in Aberdeen and Grangemouth.
Established in 2001, Whyte Crane Hire provided lifting services and mobile crane hire to customers across a range of sectors including oil and gas.
The administrators said 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 fixed costs of the crane fleet.
Despite the directors’ attempts to address financial issues, including the injection of personal funds to meet payments, trading performance deteriorated further.
A separate company operated by the Whyte family, Whyte Crane Services Limited, will continue to operate and is unaffected by the administration.
Blair Nimmo 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.”
