All jobs lost at Scots wind turbine firm as liquidators appointed

All jobs have been lost at a Scottish wind turbine firm, which has gone into liquidation due to “severe cash flow challenges”.

1STOPWIND, based in Paisley, maintains and repairs offshore and onshore wind turbines.

James Fennessey and Blair Milne from business advisory group Azets were named provisional liquidators for the firm on December 16.

It has been confirmed that nine jobs have been made redundant as a result.

The firm had experienced loss of key contracts and several delays to revenue-generating projects, which created “severe cash flow challenges”.

A spokesperson for Azets said: “1STOPWIND experienced a number of severe cash flow challenges due to a decline in trading activity.

“Despite the management team undertaking several business improvement initiatives to enable continued payments to employees and creditors, the loss of key contracts and several delays to revenue-generating projects have led to the company being unable to pay its debts as they fall due.

“We have been appointed as liquidators to the firm and will help employees with their entitlement claims to the Redundancy Payments Service and safeguard the company’s assets while we arrange their sale to maximise the return to the company’s creditors.

“There were nine employees at 1STOPWIND, all of whom have regrettably had to be made redundant.”