Materials Recycling Week (MRW) journalist Tiffany Holland, in an article entitled Biomass firm considers liquidation (dated 20 September 2011) is reporting that:
Small-scale biomass developer Bioflame has called creditors to a meeting to discuss its potential liquidation.
A public notice, signed off by Bioflame director Victor Buchanan, gives details of the meeting held on 23 September at the offices of its business recovery and rescue specialist Begbies Traynor (Central) LLP. The meeting was held to consider the company’s statement of affairs, to appoint a liquidator and, if necessary, a liquidation committee.
MRW notes that Bioflame’s webpage is no longer active and Bioflame’s office telephone is no longer active.
Ms Holland explains:
Following investment from cleantech energy fund ESB Novusmodus, Bioflame had plans to roll-out its small-scale generators to 17 MRFs, for which it had received planning permission. It had built two biomass generators and two more were under construction at the end of 2010.
According to the York Press:
The Pickering-based business has made its 38 staff redundant and ceased trading after its funder decided not to continue backing it. Victor Buchanon, managing director, [confirmed that] the directors were in the process of winding up the company…He said Bioflame had been a profitable business until it embarked on the expansion…and it had then grown too quickly.