Smart Energy (UK) Limited, one of the largest installers of domestic solar hot water systems in the UK, entered into administration on 17 July 2009.
Joint Administrators, Jason Baker and Geoff Rowley, Client Partners of Vantis Business Recovery Services, a division of Vantis, the UK accounting, tax and business advisory group, have negotiated two separate transactions for the sale of certain of the assets of the business. This followed the decision to close the business when it became evident that a sale of the business and assets as a going concern was not possible.
One agreement is with Affordable Solar Energy Limited who has acquired certain of the assets including all outstanding work in progress. The other agreement is with Advanced Solar Limited and under this agreement all former customers, which total some 16,000 people, will be notified in writing that Advanced Solar Limited can provide ongoing service and repair work that might be required.
Commenting on the administration, Jason Baker said: “Regrettably, although it was not possible to achieve a sale of the business as a going concern the agreements we have reached should enable systems to be installed where customers would have otherwise lost their deposit and in respect of former customers they will have details of a company that can deal with ongoing maintenance of the installed systems.”
Customers of Smart Energy (UK) Ltd are being advised on the administration progress by letter this week. Please click on the links below to view the letters.
Letter to customers whose installation is not yet completed.
Letter to customers who need repair or servicing of their system.
Enquiries to Affordable Solar Energy Ltd can be made by contacting 0800 988 9861. Enquiries to Advanced Solar Ltd can be made by contacting 0845 230 6451.