Ellies is dead

Ellies’ business rescue practitioners are placing the company into liquidation.

“The business rescue practitioner has concluded that there is no reasonable prospect of the company being rescued,” Ellies said.

It specialises in alternative energy products for residential, commercial, industrial, agricultural, and recreational applications. Once a darling of the JSE, Ellies was founded in 1979 by Ellie Salkow in Johannesburg. He and five employees began by selling only television aerials. The next decade saw it adding renewable energy products, backup power, and other products to its portfolio.

The share price declined by 80% between 2013 and 2014, and the company continued to lose value as it searched for new revenue streams. The high price of petrol and diesel has also played into Ellies’ hands, making its battery backup and inverter trollies attractive alternatives to generators.

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