Tuesday, 8 November 2016

Solar Cloth Company new owner files for Liquidation

The Saga of the Solar Cloth Company, which we revealed some months ago, keeps on going. Funded via Crowdcube and bought out of administration shortly afterwards, the purchaser has now also gone bust.

It was not clear for sometime who had bought the assets of SCC from Irwin and Co - the insolvency company dealing with SCC's administartion. However it has now come to light that it was Base Structures, who had entered into a JV with SCC before all this kicked off.

So now Base Structures have filed for Liquidation. 

According to the filed documents, SCC had invested £1.5m in Base Structures. One of the Base Structures directors, Chris Ives, is also to be found on the documents filed for SCC, verifying them. 

The liquidation of Base Structures is being handled by the same company, Irwins, as the one that is still in charge of the administration of SCC. they have not filed any documents since the initial report.

Draw your own conclusions. 

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