John Paul O’Hara of JPO Restructuring Limited and Lindsey Cooper of RSM Restructuring Advisory LLP were appointed Joint Liquidators of Purple Energy Limited on 22 July 2016.
Purple Energy Limited was established in 2006 and specialised in the design and installation of renewable heating systems for large domestic and commercial properties. The Company operated from a head office in Talke, Stoke-on-Trent and employed 29 employees.
The decision to appoint Liquidators was made by the directors of Purple Energy Limited due to difficult trading conditions caused by a number of factors, including low oil prices, uncertainty around changes to government incentives and reduced pipeline orders.
As a result, the company ceased to trade and all employees were made redundant. Their claims are being dealt with by the Redundancy Payments Service.
Lindsey Cooper, RSM Restructuring Advisory partner and one of the Joint Liquidators said:
‘The energy sector is facing increasingly challenging trading conditions - from fluctuation in oil prices to ongoing uncertainty regarding future government support and incentives. The company suffered from reduced activity due to this uncertain trading environment, and unfortunately liquidation became unavoidable.
‘We are working with our professional advisors to review the current assets with a view to maximising realisations for creditors.’
The RSM team has extensive energy sector expertise and is currently acting as joint administrators on the high profile Energos Ltd administration.
Any enquiries from interested parties should be directed to Alex Birch at RSM on 01782 216000.