Big local hire company in trouble

[Dealer]

Local hire company with a very large tractor fleet announce administration

Could have a short term impact on used tractor prices

Big headache for some finance companies

Feel sorry for the staff jobs at risk

https://www.thebusinessdesk.com/wes...p-enters-administration#.XDzR09VXxsY.facebook

 

[40 series]

Big write up about them in the latest earthmovers magazine

 

[Steevo]

Wow! That’s a big surprise.

Carillion strikes again?

 

[Clive]

Didn’t see that coming

 

[Dealer]

Heard some top staff left in a hurry few days before Christmas.

 

[Dealer]

http://www.constructionenquirer.com/2019/01/14/plant-hire-giant-hawk-falls-into-administration/

 

[Mursal]

Took a few small subbies with them I bet, no talk of them ..............

 

[Dealer]

Bit early for that yet sure there will be some tho

 

[wasted years]

Given that last years accounts showed a 'small profit' you would wonder what had happened to end it so quickly, presumably they just weren't hiring equipment out enough?

 

[Hurdle bunter]

Took a few small subbies with them I bet, no talk of them ..............

There’s a local tyre firm owed £45k

 

[DRC]

Given that last years accounts showed a 'small profit' you would wonder what had happened to end it so quickly, presumably they just weren't hiring equipment out enough?

Restructuring , according to local reports .
There’s no flies on them, with many different parts to the business . Started off in the next village to us, and have always been good employers locally . Most of the directors started as digger drivers straight from school, and have worked up with the Hawkins family.

 

[Shovelhands]

I’m sure there were whispers of this months ago, so I was very surprised to see the write up in EM magazine! Thought the rumours must have been bs, obviously not....

 

[Dealer]

Restructuring , according to local reports .
There’s no flies on them, with many different parts to the business . Started off in the next village to us, and have always been good employers locally . Most of the directors started as digger drivers straight from school, and have worked up with the Hawkins family.

You don't have much choice once the administrators come through the door
And finance companies repo plant
Cash is king

 

[hel123]

Given that last years accounts showed a 'small profit' you would wonder what had happened to end it so quickly, presumably they just weren't hiring equipment out enough?

I think the accounts are made up to 31 Dec 2017, so there's another year of trading where the accounts haven't been published yet.

 

[DRC]

https://www.shropshirestar.com/news...ire-plant-hire-firm-goes-into-administration/

 

[ollie989898]

That is a huge shame, they are nearly a household name now. Turnover of over 80 million, you wonder how you could get into any pain?

 

[40 series]

Cash flow. A few big names not pay or go bust and it wouldn't matter how big you are.

 

[Norfolk Olly]

EVeryone said the same when greyhound went bust, a massive company with high turnover doesn’t make a profit

 

[ollie989898]

EVeryone said the same when greyhound went bust, a massive company with high turnover doesn’t make a profit

I agree but with a turnover of over 80 million they should know their onions now when it comes to money moving in and out.

 

[nick...]

This has been talked about lots in the last few months in the plant game.these big boys rent out stuff too cheap ruining it for us owner ops.
Nick...