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.
Operating across North Yorkshire, the company has two divisions, one that provides IT infrastructure and one offering renewable energy solutions, including solar PV systems and electric vehicle charging points.
The group specialises in supplying and installing UPVC windows, doors and conservatories in a wide array of styles. Bespoke bathroom panelling and high-quality guttering products are also provided by the two companies.
The company is a well-regarded specialist provider of hygienic wall, floor, and ceiling cladding systems. To complement its core supply of PVC cladding, the business offers hot welded joints to prevent the build-up of bacteria and can supply stainles...
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.