Renenergy Installations Ltd (06562749): administration
- Status
- Administration ended
- Administration began
- 2014-04-04
- Administrators
- Jamie Playford
- Administrators' firm
- Acuity Professional Partnership
- Formerly
- Eco-Advertising Limited; ECO Conversions Limited
- Incorporated
- 2008-04-11
- Location
- Norwich
- Industry
- 43220 Plumbing, heat and air-conditioning installation
Why it went into administration
- Rising costs / inflation
- Cash flow / liquidity pressure
- Property / lease costs
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 11 April 2008 as Eco Conversions Limited and changed its’ name to Eco-Advertising Limited on 16 June 2008 A further name change was registered on 16 January 2013 and the Company began trading in March 2013 The director since incorporation was Damian Baker and Lori Baker was appointed in January 2013
The Company has been providing specialist services of designing, supplying and instailing renewable energy solutions (primarily photo-voltaic solar panels) since it commenced trading in March 2013 The Company's clients were mainly in the agricultural sector, and included both commercial and domestic clients
As an installer of renewable energy sources, the Company was able to benefit from the Government Feed-in Tariff scheme However, due to changes in the tariff industry which adversely affected the Company, and the increased competition the Company faced, the Company began to face financial difficulty The Company's staff levels were reduced from over 100 to around 30, however the fixed cost base was still too high for the Company to maintain and it became clear that the Company’s business model was no longer viable
Administrators' statement of proposals (2014-06-05) · Companies House register