A high profile solar panel installation business based in the south of the UK has been forced to close as a result of recent changes to renewable energy subsidies.
Southern Solar Ltd, which operated from sites across Wales and the south of England, appointed Jon Beard and John Walters, of business rescue and recovery specialist Begbies Traynor’s Brighton office, as joint administrators on Wednesday, 14 October.
The firm was established in 2002 by CEO Howard Johns, former chairman of the Solar Trade Association, and delivered solar electric and solar thermal equipment to commercial, public sector and domestic clients.
Jon Beard cited recent cuts to the Government’s Feed-in Tariff scheme as the main reason for the business’s failure.
Mr Beard said: “It is without doubt that the removal of the Feed-in Tariff subsidy has had a significant impact on the business of the company. Prior to the administration we had been seeking a buyer for the business in the hope that its future could be secured. However, this proved unsuccessful and we have been left with no option but to wind the company down.”
As a result of the business closure a total of 21 employees have been made redundant.
Mr Beard added that his team was now assisting employees in order to expedite their claims following the closure of the business and are examining opportunities to transfer a number of outstanding contracts.
Jon joined Begbies Traynor in London in 1997 and moved to the Brighton office as a Director in November 2008.
He has 15 years experience working on all types of formal corporate and personal insolvency procedures, in particular, small to mid-market corporate, some of which being multi-jurisdictional, with a focus on administrations/receiverships and trading appointments. He is a Licensed Insolvency Practitioner and a fellow of R3.