Speedy Hire to sell loss-making unit

first_imgTuesday 26 April 2011 7:50 pm whatsapp KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald TOOL rental company Speedy Hire plans to sell its loss-making temporary accommodation hiring business to rival Elliott, the UK arm of North American modular building supplier Algeco Scotsman, in a cash deal for £34.9m, in an effort to reduce its debt pile. The company, which had net debt of about £80m on 31 March, said the business made an estimated loss of £4.5m in the year.Speedy’s accommodation hiring business provides a range of temporary accommodation and storage units, which are being used on projects in the UK including Crossrail and the Olympics. The disposal will reduce the company’s borrowings and enable it to focus on higher margin operations, it said. Around 190 people work for the temporary accommodation business, which operates from 14 depots around the country. The disposal will result in a £16m loss on Speedy’s balance sheet. The company said the deal would be completed by 30 April. Tags: NULLcenter_img Speedy Hire to sell loss-making unit whatsapp Show Comments ▼ Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Prooflast_img read more

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