Euro Auctions to dispose Hewden Stuart assets
9 January 2017 by Sotiris KanarisEuro Auctions has been appointed to dispose of the cranes and general construction equipment assets of the hire company previously known as Hewden Stuart that entered administration on 22nd November 2016.
Joint administrators S.J. Woodward and C.P. Dempster of Ernst & Young LLP, have been working closely with Euro Auctions since the appointment to locate, catalogue and assess all assets of the business, tracking cranes and construction equipment and in many cases assisting in repatriating them to a secure depot.
The disposal will be conducted in two phases commencing in early January 2017 and is expected to be completed with the first four months of 2017.
Euro Auctions will start the disposal process of selling by tender approximately 127 mixed cranes and pieces of lifting equipment that are securely stored at various depots of the Hewden business across the UK. The disposal sale will be conducted by tender and bidders expressing interest.
Euro Auctions will also conduct the disposal of thousands of items of general construction equipment at a series of unreserved auctions to be conducted over a four month period commencing in early January. The sales will be held at Hewden depots across the UK in early January with the disposal culminating in a final sale at the Euro Auctions 60 acre sale site in Leeds later in 2017.
The inventory will include excavators, dumpers, rollers, telehandlers and other popular machinery.
