Established in 1988 by the Tierney family, the mobile crane hire business is based in Slough with depots in Kent, Aylesbury and Welwyn Garden City.
A source told the Enquirer: “We were all told of the decision at the end of last week. All staff are to be fully paid and creditors paid off in full.
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“The family just decided they’d had enough. The end of the red diesel rebate has escalated already rising fuel costs.
“Say we were spending £500,000, that would have risen to £1.2m. Hire rates are low even though cost inflation is hitting all parts of construction.”
He added: ” The only good news is that the present skills shortage means the drivers won’t have a problem finding a job.”
Latest accounts for the 12 months to the end of March 2021, show M&M Mobile Crane Hire to have £2.3m of net assets.
2017 Tadano ATF130G-5 All Terrain Mobile Crane will be among the plant going under the hammer
Around 17 cranes are to be sold by Euro Auctions on 14 September in Leeds.
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