Home Business News Price Bailey LLP, seek purchaser of assets of solar PV installation company

Price Bailey LLP, seek purchaser of assets of solar PV installation company

by LLB Finance Reporter
5th Aug 23 10:03 am

Stuart Morton and Matthew Howard, Partners in the Insolvency and Recovery Team at Price Bailey, have been appointed as joint liquidators of the company.

As part of the liquidation process, the liquidators are now seeking potential interested parties for the company’s assets, including the customer book and unfinished projects, whereby an alternative installer may be able to take over or ‘adopt’ GET installations.

Suitably qualified and accredited installer companies are urged to get in touch via the dedicated inbox [email protected] to express an interest.

The company’s last management accounts as of 31 March 2022 report an annual turnover of approximately £8 million with assets exceeding £12.5 million. GET employed 51 people but 16 were made redundant and 35 transferred to another group business prior to the appointment of Price Bailey as liquidators.

GET had previously been appointed as an approved installer as part of the Solar Together project and the company primarily traded across London. The company secured their first project with ‘Solar Together’ in 2020 resulting in approximately 1000 installations. This was then further built on with participation in the London ‘Solar Together’ clean energy scheme. In addition, the company engaged in various large-scale domestic solar PV installations within London, Cambridgeshire & Warwickshire.

However in early 2023, a number of setbacks led to GET losing its Microgeneration Certification Scheme (“MCS”) accreditation resulting in the company no longer being able to continue to trade. As a result, the management of the company contacted Price Bailey for assistance with regards to placing the company into liquidation.

Price Bailey has been working with relevant stakeholders to establish the rights and entitlements of affected parties, including consumer customers. The firm has issued guidance to all consumer customers advising those affected on what action they can take with regards to monies that they are owed.

Most customers who have paid a deposit should have the option to claim monies back from their card provider. Customers are also advised they may have additional deposit protection arranged through The Home Insulation & Energy Systems Quality Assured Contractors Scheme (“HIES”).

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