Southern Solar Ltd (04403959): administration
- Status
- Administration ended
- Administration began
- 2015-10-14
- Administrators
- Jonathan James Beard, John Walters
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2002-03-26
- Location
- Brighton
- Industry
- 33190 Repair of other equipment
From the administrators' statement
Tne Company was incorporated in 2002 and operated as a supplier and installer of renewable energy solutions to both corporate and residential customers, specifically concentrating on solar panels
The Company was well established and traded successfully for a number of years, benefitting from Government initiatives that had been brought into place to encourage investment into solar energy tn particular, ‘feed in tariffs’ (‘FITS’) offered incentives for both individuals and businesses to use solar power, effectively generating an income from the power, which over an extended penod was profitable for the end user
We understand that the Company's business model was largely based around installations and projects that took advantage of the subsidies available However the amounts available under the FITS scheme have been subject to year on year reductions, which affected the demand for the Company's services, reducing its turnover As a result, the Company had started to suffer from cash-flow constraints
Administrators' statement of proposals (2015-12-14) · Companies House register