Argyll wind tower solutions firm CS Wind in administration
CS Wind (UK) Limited, the wind tower solutions business based in Argyll, has been placed into administration.
Located at the Machrihanish Business Park near Campbeltown, CS Wind was founded in 2016 following the acquisition of Wind Towers (Scotland) Limited, which at the time operated the UK’s only factory producing on and offshore wind tower systems.
In recent years, the firm had been suffering as market conditions deteriorated resulting in a decline in contracts and revenue. As a result, CS Wind (UK) began a managed wind down during 2020 and was effectively mothballed in the Spring of 2020. The company was unable to secure new contracts and all staff have now either left or been made redundant by the company.
With no prospects of any recovery in the market, the company’s directors decided to place the business into administration and appoint Michelle Elliot and Tom MacLennan of FRP Advisory as administrators. The joint administrators will now market the assets for sale, including various plant and machinery and a residential property in the heart of Campbeltown that had been used by management for accommodation.
Joint administrator Michelle Elliot said: “CS Wind (UK) and its predecessor businesses have a long tradition of designing, manufacturing and supplying high quality wind tower solutions to clients across the UK and Europe. The wind tower industry has hence had a significant presence in Argyll for many years, but market conditions have unfortunately resulted in the business being unsustainable and with no immediate prospect of recovery.
“We will now move to market the assets of the business for sale and would urge any interested parties to contact the FRP Advisory office in Glasgow as soon as possible on 0330 055 5455.”