June 4, 2013 - The market for solar energy has long been characterized by very strong downward price trends and high competition (among others Asia). As a reaction Scheuten Solar was forced to decrease its sales prices at a negative margin to maintain market share in 2012. This situation was successfully reversed by the end of 2012, after reorganizing several business activities.
In February 2013, however, commercial activities of Scheuten Solar were severely affected by the notification of the Dutch Food and Consumer Product Safety Authority (NVWA) regarding fire hazard of solar panels of the former Scheuten Solar. In addition the solar market as a whole was turned into a vacuum due to the proposed anti-dumping measures by the EU on Chinese solar modules.
On May 29, 2013 the parent company and shareholder of Scheuten Solar decided to lay claim to its outstanding loans to Scheuten Solar. To this end, the board was left no other option than to seek bankruptcy. On June 4th, Scheuten Solar was declared bankrupt and Mr. Van den Heuvel of Meulenkamp Lawyers was appointed as the curator.
