One of the country’s largest installers of energy-saving measures has applied for a company voluntary arrangement – used when a firm is unable to pay debts.
NWS of Barnsley has called a creditors’ meeting to ask for new payment terms for a fixed period so it can continue trading. But if fewer than 75 per cent of creditors, by value, agree, it could face liquidation – closure with the loss of all jobs.
The firm, of Maple Close, Tankersley, Barnsley, expanded rapidly last year after being approved as an installer and assessor for the Government-backed Green Deal energy-saving scheme.
It was also one of the first companies in the UK to offer householders cashback under the scheme. From 180 staff in October last year it had plans to double in size to 380 employees.
But the industry has been hit by delays in payments from Government.
Now creditors have been sent a letter from John Hedger of Seneca Insolvency Practitioners in Matlock, Derbyshire.
One creditor, who asked not to be named, said: “We did some work for NWS earlier in the year and we haven’t been paid for it. They said Government incentives hadn’t come through.”
NWS founder Stewart Davies said that he was not prepared to discuss the situation.