Leading UK insulation business goes into administration

October 8th, 2015

Mark Group longAlmost 1,000 jobs have been lost at Mark Group, as one of the UK’s leading insulation and solar panel installers went into administration following Government policy change.

The downfall of the company is due to reductions in financial support for household energy efficiency and a proposed cut in support for solar power. The number of major energy efficiency measures being installed in households has crashed by 80% in the last three years as a result to cuts to various Government energy efficiency programmes.

Following these cuts, the Mark Group was re-organising its business to concentrate more on solar panel installations.  This plan was undermined by the recent proposal by the Government to withdraw almost all financial subsidies for solar panels.

The Mark Group said it had to bring in insolvency specialists because it was unviable due to ongoing losses at the Leicester-based business. So far the administrator, Deloitte, has made 939 redundancies, but a further 200 jobs are at risk unless a buyer can be found.

The Mark Group has been one of the leading business supporters of the Energy Bill Revolution campaign to make energy efficiency a UK infrastructure priority, recognising the huge economic benefits of an ambitious programme to retrofit UK homes to reduce energy bills.

Ed Matthew, Director of the Energy Bill Revolution, said:

“This is a tragedy.  Energy efficiency is the best way to bring down energy bills, it is key to boosting UK productivity and the only long term solution to fuel poverty. The Mark Group should be thriving but its business model has been wrecked by years of damaging energy policy interventions. The Government must move fast to provide urgent transition and long term investment support for energy efficiency, including making infrastructure funds available for a far more ambitious and effective household energy efficiency programme. If they don’t, we are in danger of the entire industry collapsing.”

ENDS

Contact

Ed Matthew, 07827 157906, ed.matthew@e3g.org

Back
MPs who supported the campaign
The only permanent solution to drive down energy bills and end fuel poverty.