Sustainable Energy Scotland enters administration

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.


Share this article



Latest Businesses for Sale

Civil Engineering Contractor (Fast Sale)
London, UK

An urgent sale is sought and offers are required by midday on Thursday 21st November 2019. Specialises in ground works, highways and landscaping. Current work in progress and significant pipeline.

Asking Price: Offers Invited
Turnover: £1,360,000

Haulage Business (Fast Sale)
North West, UK

Indicative offers are required by 17:00hrs on Monday 18 November 2019 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a general haul...

Asking Price: Offers Invited
Turnover: £2,000,000

LEASEHOLD


Engineering Services to the Recycling Industry
South West, UK

Installs, services and maintains a wide variety of machinery within the recycling and waste management industry. Circa 150 active clients, approximately 40% of whom provide reliable and repeat business on an ongoing basis. Excellent industry reputati...

Asking Price: Offers Invited
Turnover: £1,100,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

 
12
 
Nov
 

MBO at Gloucestershire bricklayers | MBO/MBI

Gloucestershire building services firm Cavendish Park Brickl...

 
07
 
Nov
 

Successful MBO at Homefair Blinds | MBO/MBI

Homefair Blinds has been acquired in an MBO led by a trio of...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources