{"id":9733,"date":"2017-01-13T20:02:16","date_gmt":"2017-01-13T20:02:16","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=9733"},"modified":"2017-01-13T20:02:16","modified_gmt":"2017-01-13T20:02:16","slug":"uk-plant-hire-firm-hewden-crashed-owing-240m","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/","title":{"rendered":"Administrators from Ernst &#038; Young report UK Plant Hire Firm Hewden crashed owing \u00a3240m"},"content":{"rendered":"<p>Hewden is estimated to\u00a0have collapsed with crippling debts of\u00a0up to \u00a3240m\u00a0with\u00a0banks and unsecured creditors.<\/p>\n<p><a href=\"http:\/\/www.constructionenquirer.com\/2017\/01\/12\/plant-hirer-hewden-crashed-owing-240m\/\" target=\"_blank\" rel=\"noopener noreferrer\">Construction Enquirer<\/a> reports, administrators from Ernst &amp; Young have released the first breakdown of the plant hirer\u2019s financial position following its collapse in November.<\/p>\n<p>The \u00a384m turnover plant hirer\u00a0is estimated to have assets worth nearly \u00a3100m, but all of this will be swallowed paying secured bank creditors much of the \u00a3150m they are owed.<\/p>\n<p>A pre-pack deal with <a href=\"http:\/\/www.aplant.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">A-Plant<\/a> to buy the powered access, power generation fleet and Interlift \u00a0materials handling business raised\u00a0\u00a329m.<\/p>\n<p>Since then <a href=\"http:\/\/www.morrisleslie.com\/plant-hire\/\" target=\"_blank\" rel=\"noopener noreferrer\">Morris Leslie<\/a>, <a href=\"http:\/\/www.jkashbrook.co.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">JK Ashbrook<\/a>, <a href=\"http:\/\/www.gap-group.co.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Gap Group <\/a>and <a href=\"http:\/\/www.nixonhire.co.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Nixon Hire<\/a> have together bought a further eight depots and plant raising a further\u00a0\u00a329m.<\/p>\n<ul>\n<li><strong><a href=\"http:\/\/minutes.machine.market\/index.php\/2017\/01\/06\/uk-plant-hire-firms-are-snapping-up-ex-hewden-machinery-equipment-depot-locations\/\" target=\"_blank\" rel=\"noopener noreferrer\">UK Plant Hire firms are snapping up Ex-Hewden machinery equipment depot locations<\/a><\/strong><\/li>\n<li><strong><a href=\"http:\/\/minutes.machine.market\/index.php\/2017\/01\/04\/127-hewden-cranes-set-to-go-to-euro-auctions-after-collapse\/\" target=\"_blank\" rel=\"noopener noreferrer\">127 Hewden Cranes &amp; Lifts going to Euro Auctions after collapse<\/a><\/strong><\/li>\n<li><strong><a href=\"http:\/\/minutes.machine.market\/index.php\/2016\/11\/22\/a-plant-acquires-three-divisions-of-hewden-for-29m-as-rental-giant-goes-into-administration\/\" target=\"_blank\" rel=\"noopener noreferrer\">A-Plant acquires three divisions of Hewden for \u00a329m as rental giant goes into administration<\/a><\/strong><\/li>\n<li><strong><a href=\"http:\/\/minutes.machine.market\/index.php\/2016\/11\/19\/is-brexit-to-blame-as-machinery-rental-firm-hewden-nears-collapse\/\" target=\"_blank\" rel=\"noopener noreferrer\">Is \u2018Brexit really to blame\u2019 as UK machinery rental firm Hewden nears collapse??<\/a><\/strong><\/li>\n<li><strong><a href=\"http:\/\/minutes.machine.market\/index.php\/2016\/07\/22\/11-5m-investment-for-uk-crane-hire-firm-hewden\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u00a311.5m investment for UK crane hire firm Hewden in Tadano cranes<\/a><\/strong><\/li>\n<li><strong><a href=\"http:\/\/minutes.machine.market\/index.php\/2016\/04\/22\/30-new-terex-genie-gth-2506-compact-telehandlers\/\" target=\"_blank\" rel=\"noopener noreferrer\">30 new Terex Genie GTH-2506 compact Telehandlers for Hewden UK<\/a><\/strong><\/li>\n<\/ul>\n<p>On top of this Ernst and Young hopes to raise a further \u00a350m selling\u00a0Hewden\u2019s 137-crane fleet and remaining construction plant in auction over the next four months.<\/p>\n<p>But they\u00a0have warned there is little prospect of unsecured creditors seeing the cash they are owed.<\/p>\n<p>The rest of the unsecured debts cover intercompany loans, taxes owed to HMRC as well as a \u00a346m shortfall in the company pension fund.<\/p>\n<p>Trade creditors are out of pocket to the tune of\u00a0\u00a322.5m. \u00a0Out of this mobile crane supplier <a href=\"https:\/\/www.tadano.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Tadano<\/a> is owed \u00a37.4m and\u00a0tower lighting specialists Generac Mobile Products UK and Trime UK are owed \u00a33.2m and \u00a31m respectively. Gunn JCB and Finning are each owed around \u00a3500,000.<\/p>\n<p>Written by Aaron Morby<\/p>\n<p>To share a story email<br \/>\n<a href=\"mailto:aaron.morby@constructionenquirer.com\">aaron.morby@constructionenquirer.com<\/a><br \/>\nalways off the record<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hewden is estimated to\u00a0have collapsed with crippling debts of\u00a0up to \u00a3240m\u00a0with\u00a0banks and unsecured creditors. Construction Enquirer reports, administrators from Ernst &amp; Young have released the first breakdown of the plant hirer\u2019s financial position following its collapse in November. The \u00a384m turnover plant hirer\u00a0is estimated to have assets worth nearly \u00a3100m, but all of this will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9734,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2],"tags":[690,1435],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Administrators from Ernst &amp; Young report UK Plant Hire Firm Hewden crashed owing \u00a3240m - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Administrators from Ernst &amp; Young report UK Plant Hire Firm Hewden crashed owing \u00a3240m - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Hewden is estimated to\u00a0have collapsed with crippling debts of\u00a0up to \u00a3240m\u00a0with\u00a0banks and unsecured creditors. Construction Enquirer reports, administrators from Ernst &amp; Young have released the first breakdown of the plant hirer\u2019s financial position following its collapse in November. The \u00a384m turnover plant hirer\u00a0is estimated to have assets worth nearly \u00a3100m, but all of this will [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cranemarket.com\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/\" \/>\n<meta property=\"og:site_name\" content=\"MachineMarket Blog\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-13T20:02:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2017\/01\/Hewden-Crash.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/machine.market\/blog\/#organization\",\"name\":\"CraneMarket | Cranes for Sale and Rent\",\"url\":\"https:\/\/machine.market\/blog\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/machine.market\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2019\/03\/crane-market-logo.png\",\"width\":282,\"height\":81,\"caption\":\"CraneMarket | Cranes for Sale and Rent\"},\"image\":{\"@id\":\"https:\/\/machine.market\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/machine.market\/blog\/#website\",\"url\":\"https:\/\/machine.market\/blog\/\",\"name\":\"MachineMarket Blog\",\"description\":\"Machine News\",\"publisher\":{\"@id\":\"https:\/\/machine.market\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/machine.market\/blog\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cranemarket.com\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2017\/01\/Hewden-Crash.jpg\",\"width\":1024,\"height\":683},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cranemarket.com\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/#webpage\",\"url\":\"https:\/\/cranemarket.com\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/\",\"name\":\"Administrators from Ernst & Young report UK Plant Hire Firm Hewden crashed owing \\u00a3240m - MachineMarket Blog\",\"isPartOf\":{\"@id\":\"https:\/\/machine.market\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/#primaryimage\"},\"datePublished\":\"2017-01-13T20:02:16+00:00\",\"dateModified\":\"2017-01-13T20:02:16+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cranemarket.com\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/\"]}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/cranemarket.com\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/uk-plant-hire-firm-hewden-crashed-owing-240m\/#webpage\"},\"author\":{\"@id\":\"https:\/\/machine.market\/blog\/#\/schema\/person\/d55314291bc2800387533231d1e82150\"},\"headline\":\"Administrators from Ernst &#038; 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