Thu, 27 Sep 2012 | ADMINISTRATION
Ploughcroft Building Services has confirmed that it has entered administration and has been sold to a new company.
The renewable energy installer was sold to Ploughcroft Ltd, which is headed up by the former owner of the business, Chris Hopkins. Mr Hopkins will continue to trade through the new company after having acquired all the company's assets and goodwill.
Financial problems were blamed for the business administration after successive cuts to the Feed-in Tariff solar power subsidies saw trade filter off as customers either defaulted on payments or went out of business themselves.
Poor weather conditions made the situation worse after summer installations were held up and August orders were reduced.
Mr Hopkins is expected to set Ploughcroft Ltd up with 120 solar installers and is planning on establishing a customer helpline to encourage more business.
Before Ploughcroft entered administration, it installed solar panels, heat pumps, wind turbines and electric vehicle charging points.
Ploughcroft is not the only company to have struggled financially since the government cut its Feed-in Tariff incentives. The changes in payouts saw a sharp drop-off in domestic solar panel installations, while businesses have been keeping spending tight recently in light of ongoing economic strife.
The company is renowned for its unique, high-quality products, with its continued commitment to designing and manufacturing products to an exceptionally high standard ensuring that it stands apart from competitors and is firmly established as a leadi...
A CQC-accredited, family-owned healthcare provider offering medical, aesthetic, physiotherapy, and diagnostic services in London. With lucrative NHS contracts, including occupational health and international recruitment, and a sponsor licence, the bu...
LEASEHOLD
The company offers all-encompassing building engineering and support solutions, undertaking installations, planned preventative maintenance, and remedial and emergency works for heating, ventilation, electrical systems, plumbing, air conditioning and...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.