Gleason Cranes, formerly a prominent name in crane distribution and rental, is shutting down after 50 years in business.
With a debt structure that became unmanageable, the company opted to close its doors rather than file for bankruptcy protection. All employees have been let go while Bob Gleason and his son-in-law Phil Rice wrap up the business.
Gleason has been a leading distributor for Grove for more than 30 years. Grove has now taken the spare parts out of its inventory and moved them to North Central Crane, the Manitowoc company store in Chicago.
Bob Hixon, Grove vice president for North American crane sales, said that no decision had yet been taken on whether North Central would be given the Grove distributorship.
Hixon said that Grove had not had to take back any cranes as these belonged to finance companies.
Gleason was also a distributor for P&H, Clark Austin-Western, Clark Lima and Sargent.