Non-profit Scottish industry trade body Energy North has gone bust.
More than 200 members have been informed by letter from the Invergordon-based organisation that the Energy North board had taken steps to put the company into liquidation.
Energy North was set up to promote the interests of those involved in the oil and gas, nuclear and renewable sectors across the north of Scotland and the islands.
Originally formed as the North of Scotland Industries Group its area of operation covered Aberdeen, Aberdeenshire, Orkney, Shetland, Caithness, Sutherland, Skye, Lochalsh, Ross-shire, Lochaber, Inverness, Moray, Argyll, and the Outer Hebrides.
Member companies included Amec Foster Wheeler, Chevron, Barclays and Subsea 7 and Highland Council
In a letter seen by Energy Voice, members were informed: “It is is with deep regret the Board of Energy North writes to advise you that the directors of Energy North have today taken steps to put the company into Liquidation.”
“The [board] took the difficult decision to enter Liquidation as a result of declining income, a fall in membership and significant uncertainties affecting the sector which are expected to impact further upon future sources of funding.”
“The Board very much regret that it is not possible in the current climate for the organisation to continue its valuable work on behalf of our members across the energy sector.
“We remain confident that the energy sector in the north will recover strongly from the current challenges, as it has done in the past, drawing upon the outstanding people, facilities and resources our region has to offer.
“This decision is no reflection on our team of dedicated staff, who have worked hard in recent months to secure Energy North’s survival.
“We would particularly like to acknowledge the efforts made by Stuart Deed since joining us as chief executive in June.”
Deed took over as chief executive from Ian Couper, who stepped down after eight years at the helm.
Baker Tilly Restructuring and Recovery will be appointed joint interim liquidators. It will oversee the orderly wind down of the company and recover the assets for the benefit of creditors.
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