Renewable energy installer Ploughcroft Building Services has confirmed that it has gone into administration and all staff have been made redundant.
However, the administrators have agreed to sell the firm's assets to former owner Chris Hopkins who has formed a new company called Ploughcroft Ltd.
The company's financial woes have been attributed to successive cuts to the feed-in tariff subsidies for solar power and a decline in orders for solar installations this summer due to bad weather.
Mr Hopkins appeared on the BBC Two Dragons' Den programme last year winning £120,000 of funding for the company.
