Skyking, the UK distributor for Palfinger platforms, has applied to be struck off following its closure late last year.
According to former director Nigel Faulconbridge, the solvent wind up of the business, which is part of the King group of companies and owned ultimately by HW Martin, was chosen “because the market didn’t appeal to the Martin group of companies.
“It was high risk for low reward.”
He added: “We paid off all the creditors, including HMRC.”
Skyking, which commenced trading in February 2017, supplied, serviced and maintained access platforms and was the UK dealer for Palfinger.
The last available set of accounts, for the year ending 31 July 2018, showed that although turnover was £2.08m, it reported a loss before tax of £127,609.
Faulconbridge said that Skyking staff were either transferred into the King group or made redundant: “We’re only talking about four people remaining,” he added.
It applied to be struck off and dissolved on 6 April.
