Mon, 01 Jun 2015 | ADMINISTRATION
Dundee-based Sustainable Energy Scotland (SES) has entered administration after struggling with market turbulence and bad debt.
The directors of SES called in administrators from Begbies Traynor last week voluntarily.
Callum Milne, managing director, said in a statement to The Courier: “It is with regret that Sustainable Energy Scotland has been placed into voluntary administration.
“The energy efficiency funding market is extremely volatile, often changing on a daily basis.”
He added that much of the company's work was funded by the government's Energy Company Obligation scheme. However, as carbon prices have crashed to an all-time low, it became increasingly difficult to trade carbon profitably.
Mr Milne added: “Sustainable Energy Scotland is one of a number of companies that have been forced into this position due to the rollercoaster nature of the carbon-trading market.
“The situation was hampered further by a significant bad debt, which placed us in an untenable position.”
SES was founded by Mr Milne and his brother-in-law David Small back in 2012. It had a turnover in the region of £1 million and a staff of 40, the majority of whom have been made redundant, although efforts are being made to find alternative employment for as many as possible.
View other renewable energy businesses for sale here.
The company provides a wide range of refurbished laptops, desktop computers and associated products, carrying out all renewal services in-house.
Established circa 20 years ago. Specialist provider of comprehensive plumbing and heating services to clients in the aeronautical sector.
Offered for sale is a fast-paced, innovative company that supports clients at every stage of the product design and development cycle. The business initially engages with the client to define the specifications and branding, before providing mechanic...
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.