Liquidators appointed to biomass boiler specialist BBSM Limited

Nick Harris and Lucinda Coleman, partners in the restructuring team at PKF Francis Clark, have been appointed joint liquidators of BBSM Limited.

The company was based in Tiverton and provided biomass boiler servicing, maintenance and installation services across England and Wales.

Founded in 2019, BBSM built a strong reputation for technical expertise and customer service. The business supported commercial and industrial biomass heating systems throughout the UK. It grew rapidly, increasing turnover to almost £4 million within five years and developing a substantial customer base in the commercial and public sectors.

According to the directors, the company’s decline was caused by a combination of factors over the past 18 months. These included bad debts from customer insolvencies, losses on two major projects and rising operating costs. Cash flow also came under pressure as customers took longer to pay. Earlier this year, several significant projects were cancelled or delayed.

BBSM entered creditors’ voluntary liquidation on Tuesday 1 September. Sadly, 30 employees have been made redundant.

Joint liquidator Nick Harris said: “BBSM had established an excellent reputation within the biomass heating sector. After encountering various headwinds in recent times, the directors worked hard to explore options to secure the future of the business.

“Unfortunately, it was not possible to rescue the company as a going concern and there was no alternative to liquidation in the circumstances. Our focus now is on realising the company’s assets for the benefit of creditors, as well as supporting former employees with claims to the Redundancy Payments Service.”

Creditors are encouraged to contact Charles Bell, at our Bristol office, as soon as possible on 0117 403 9800 or [email protected].

Find out more about our award-winning business restructuring and recovery team.