Courts / Louth / Report
Provisional liquidators appointed to heating control company
Summary
The High Court appointed Dessie Morrow and Dairmaid Guthrie of Azets Ireland as joint provisional liquidators for Climote Limited, a heating‑control firm with 20 employees. The appointment followed a failed Small Companies Administrative Rescue Process (SCARP) and an inability to agree on a rescue plan. Climote had been profitable until 2019 but became loss‑making due to Covid‑19 impacts, the removal of its 'Single Measure Solution' from the Energy Efficiency Obligations Scheme, and a €1.1 million loss in 2022. The company also owes significant debt to Revenue. The liquidators will preserve assets, maintain service for up to 100,000 remote heating controllers, and seek to sell the company's goodwill and assets, potentially to an identified investor, while ensuring continued maintenance until the assets are sold. The matter was adjourned to November.
Who, what, where, when and why
What: Report matter: Provisional liquidators appointed to heating control company. Procedural stage: hearing_or_decision
When:
- 2023-10-19 Publication
Why: This was being sought in order to preserve the significant goodwill the business has built up. CNI source report
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