On Thursday 2nd November 2017 Keith Anderson of mlm Solutions was appointed as Provisional Liquidator to VG Energy Limited.
VG Energy Limited, a renewable technology specialist providing turnkey solutions for wind, solar or biomass projects, ceased trading on 27 October 2017.
The company employed 39 staff all of whom have been made redundant with the exception of 5 employees whom have been retained to assist the liquidators.
Keith Anderson, Director at mlm Solutions and Provisional Liquidator to VG Energy Limited said:
"Over the last six months a number of external factors have led to a significant drop in orders from commercial customers. After a sustained period of trading losses the company has encountered severe cash flow difficulties.
The company has been impacted by uncertainties with the Renewable Heat Incentive scheme which has made the scheme less attractive for some commercial customers causing orders to be cancelled or delayed. Furthermore the fall in the pound, as a result of Brexit, has increased costs which the company has not been able to pass on to customers.
We are working with the employees and liaising with other agencies to protect the interests of the employees at this very difficult time.
Our focus will then be on disposing the company's assets in order to maximise the recoveries for the creditors. All suppliers will be contacted in due course."