Gaia-Wind has been appointed a provisional liquidator by the Court of Session, Edinburgh on 13th March 2018. Competitive pressures in Denmark reduced sales in the last year or so which was not helped by the UK government’s reduction in tariff support in recent years.
Although a business plan at the end of 2017 provided a practical basis for survival, recent drastic cuts in Italian and Japanese government support for small scale wind turbines lead to dramatic reduction in the immediate order pipeline in those markets. Faced with these challenging circumstances in each of its main market areas, the board reached the unfortunate decision that the company had no option but to cease trading. This development places 12 jobs are at risk and meantime, the provisional liquidator is looking for interested parties to take over the business in whole or in part, or parties interested in acquiring the assets.
