Creditors & Suppliers
| What does ‘going into administration’ mean? | Going into administration means the Company is being taken under the management of an administrator (a licensed insolvency practitioner). The administrator assumes control of the Company from the current directors. Administration is one of a number of insolvency processes. |
| What is an administrator? | An administrator is an officer of the Court and is qualified to manage the affairs of a business when it is insolvent. It is their role to take control of a Company’s affairs when it is in financial difficulty and try to find a longer term solution for it. The administrators act as agents of the Company and without personal liability. |
| Who are the administrators? | The administrators are Rachael Wilkinson, Mark Toby Banfield and Adam Seres of PricewaterhouseCoopers LLP (the “Joint Administrators”). |
| What has happened? | The Company has faced several challenges, including a sharp reduction in profits and cash flow pressures. These headwinds arose from materially lower installation volumes under the GBIS and ECO schemes, as energy suppliers paused new commitments during the Government’s consultation process regarding the future of such schemes. This further depressed near term order book and reduced pipeline visibility. Despite extensive efforts to stabilise the Company’s financial position and explore restructuring and sale options, no viable solution was found. As a result, the directors concluded that the Company was unable to continue trading, and the Joint Administrators have now commenced a controlled wind down of operations. A limited workforce will remain in place to support the closure of sites and the realisation of assets. We appreciate this news will be disappointing. The Joint Administrators will be in touch with suppliers and creditors in due course with further information regarding next steps. |
| Future supplies | While the Company is not going to trade in administration, there will be some essential supplies needed to facilitate an orderly winding down of the business. The Joint Administrators will reach out to these suppliers over the coming days. Please note that the Joint Administrators will ONLY pay for supplies where instruction to continue supply has been provided in writing by the Joint Administrators. |
| I have goods on site, can I get them back? | If you believe you have a Retention of Title claim over goods or a claim over a leased asset that you have supplied to the Company please contact the Administration team at: uk_scis_creditors@pwc.com
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| Can I claim as a creditor? | If the Company owes you money prior to the administration appointment date, and you do not have security registered at Companies House, you will be an unsecured creditor of the administration estate. You can submit an unsecured claim for the amount you are owed in to the administration estate. If you wish to submit a claim, we will be writing to all known creditors in due course to provide access to an online claims portal where you can track the status of your claim. If you prefer you can complete a proof of debt form which is linked here, however please note that you will be unable to track your claim using this manual method. Any claim forms can be emailed to uk_scis_creditors@pwc.com. It is too early in the process to be able to advise if there will be a dividend to the unsecured creditors. We will update creditors further as to the likelihood of a dividend in due course.
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| What further information on the administration will I receive? | The Joint Administrators will publish a report via the case website to all known creditors and members of the Company within eight weeks of the appointment. This report is known as the Joint Administrators’ proposals and will outline steps taken by the Administrators to date and the strategy going forwards. The Joint Administrators are also required to provide a written update on the administration to all known creditors every six months. This report will be published to the case website within one month of every six month anniversary or earlier if an administrator vacates office or an extension to the administration is granted. |
| Who can I contact if I have any other queries? | If you have any further queries, please email: uk_scis_creditors@pwc.com
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