Euro Auctions has been appointed by administrators to dispose of failed plant equipment hire firm Hewden’s assets
Plant equipment hire firm Hewden suffered a blow last year after the firm failed. The firm entered administration on 22 November and saw over 250 job losses as a result of folding. However, some staff gained a reprieve after Ashtead Plant Hire Company purchased some asset, saving 133 jobs.
The administration process has been overseen by Ernst & Young, who have appointed Euro Auctions to dispose of the cranes and construction equipment assets.
Assets to be sold at auction
Joint administrator Sam Woodward said: “We are delighted to be working with Euro Auctions on the disposal of the crane and construction machinery assets of Hewden.
“We look forward to working closely with the Euro Auctions team over the coming months and maximising returns for creditors.”
It is expected the disposal will be carried out in two phases. The first phase is set to start in early January 2017 and will complete within the first four months of 2017.
Two phases
Phase one will see the 127 mixed cranes and pieces of lifting equipment sold by tender. A full inventory of equipment will be posted to the Euro Auctions website when it is available.
The second phase will see the disposal of thousands of items of general construction equipment. This will be carried out at a series of unreserved auctions over a four month period, starting this month. Sales will be held at Hewden depots across the UK.
David Betts, of Euro Auctions said: “All the equipment going under the hammer has been exceptionally well maintained and we expect real interest as it’s all being offered without reserve so buyers could pick up some real quality bargains.”
Jonnie Keys, Operations Manager of Euro Auctions added: “Euro Auctions has extensive experience in conducting off-site disposal sales and through our global network of buyers and consignors we will be marketing to a specialist audience that has special interest in cranes and lifting equipment, which along with the general construction machinery, has global appeal.”
For more information visit www.euroauctions.com or contact Euro Auctions on +44 (0) 2882 898262.