Scottish renewables firm goes bust as more than 50 jobs lost
Remaining staff have been kept on while operations are wound down and the site is cleaned up, consultancy firm PwC said.
Sarah O'Toole and Edward Williams of PwC were appointed as joint administrators as the company entered administration.
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A PwC spokesperson said: 'It is with deep regret that 52 of the 89 employees had to be made redundant immediately on appointment.
'The administrators will retain some employees to support in winding down operations and clean-up of waste materials on site.'
Levenseat Renewable Energy, which is an offshoot of Levenseat Ltd, was incorporated in 2014 and headquartered at the Levenseat Waste Management Site in Forth, South Lanarkshire.
The firm has operated an energy-from-waste plant there since 2020.
In recent years, the company has experienced outages due to machine failures, which has needed significant funding to fix.
According to the latest full accounts on Companies House, Levenseat Renewable Energy reported a loss of more than £28 million in 2023, and was forced to negotiate deferred loan repayments until June 2025.
Directors had hoped to secure crucial investments before that date, but they failed, leading them to declare the company insolvent.
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Despite sharing part of a name with LREL and benefitting from previous operational support from the energy firm, Levenseat Resource Management (LRM) has assured its investors and employees that things are 'business as usual'.
A statement from the company said: 'You may have heard the recent news that Levenseat Renewable Energy Ltd (LREL) has entered into administration. We want to reassure you that Levenseat Resource Management (LRM), is a separate company and has not entered administration.'
A spokesperson for the new LREL administrators added: 'The administrators are working closely with the Redundancy Payments Service (RPS) to ensure that those affected receive their statutory entitlements as soon as possible.'
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