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 diverse range of solutions to clients across the healthcare sector, including temporary staffing, supported living, and complex care. To complement its core services, the business has developed its own app, enabling healthcare...
The company offers the hire of a wide range of high-quality, modern plant, access, and tools regionally. Priding itself on its outstanding customer service and large, loyal client base, the company also provides training for IPAF courses through an e...
The company is a reputable provider of signage and labels for use across various industries, including education, construction, healthcare, and commercial sectors. To ensure that its clients receive an efficient and high-quality service, the business...
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.