General Crane Files Reorganization Plan

General Crane USA, Pompano Beach, Fla., has filed for bankruptcy protection. In a letter to customers on its website, the company’s managing partners, Jim Robertson and Jason Retterath, attributed the company’s position to a challenging economic climate.

Robertson and Retterath stated that South Florida and Las Vegas, historically strong markets for General Crane, have been hit especially hard, and several clients have filed for bankruptcy as well. General Crane has implemented a workout procedure with its lending institutions. Upon completion of the process, the partners expect the company to be “stable, strong, and more financially sound than ever before.”

The process will not affect the company’s ability to provide equipment to customers. “General Crane USA and its team of professionals are committed to maintaining the highest level of safety standards and equipment maintenance available in the construction industry,” the statement said. “We will continue to deliver excellent safety practices in the field, and superior quality equipment along with the most highly skilled and experienced operators in the industry.”