Euro Auctions has been appointed by Price Bailey to dispose of assets of Quinto Crane & Plant Ltd, now in administration
The firm, previously known as Quinto Crane & Plant Ltd, had sites across East Anglia, and was founded in 1966, making it one of the oldest crane and plant rental businesses in the UK. But on the 4th May, administrators were appointed and Quinto Crane & Plant Hire Ltd went into administration.
Price Bailey, based in Norwich, has been brought in to handle the administration and working with local agent Edward Wells, has appointed Euro Auctions to value and dispose of the assets of the business which includes 20 all-terrain cranes ranging from 40t to 300t and including makes such as Liebherr, Manitowoc, Tadano and Spierings.
The sale will take place at the Anson Road site near Norwich Airport on the 23rd June. This will be a live auction, which will also be streamed online on the Euro Auctions bidding platform and viewing days will be on 21st and 22nd June.
Matt Howard, Head of Insolvency and Recovery at Price Bailey, said: “The directors of the business made the difficult decision for Quinto Crane and Plant Ltd to cease trading in late April 2022. Price Bailey have been instructed to assist with the administration, and we will be seeking buyers for the individual assets of the business. We are delighted to be working with Euro Auctions on this disposal and their experience in the crane and heavy lifting sector, with previous sales like the disposal of the Hewden assets, made them a natural fit for this auction. We look forward to working closely with the Euro Auctions team over the coming months and maximising returns for creditors.”
David Betts, of Euro Auctions comments: “We are delighted to have been selected by the Administrators to work with them and advise on this project. Euro Auctions has extensive experience in conducting disposal sales and through our global network of buyers and consignors, we will be marketing to a specialist audience that has interest in cranes and lifting equipment, which along with the general construction machinery, has global appeal. Euro Auctions has a great deal of experience in the cranes and lifting market, including conducting the world's largest one day mobile crane sale, when Hewden Crane Hire went into administration and Euro Auctions disposes of 127 mobile cranes which sold for €32m.”
For more details about the inventory please contact David Betts - 0044 7834 600 040 [email protected]