PwC has announced the appointments of Jane Steer and Eddie Williams as joint administrators of Zebra Power Limited.
Zebra is an energy retailer supplying gas and electricity to approximately 15,000 domestic customers, with the company’s headquarters located in Manchester.
According to PwC, Zebra had been experiencing “financial challenges” as a direct result of the “sharp” increase in wholesale gas and electricity prices.
In October 2021, Zebra’s gas supplier also advised the company of its intention to withdraw from the wholesale gas market.
PwC said Zebra was unable to secure alternative services at a viable price and consequently the directors of Zebra took steps to place the company into administration.
Jane Steer, Zebra Power joint administrator and PwC partner, said: “The energy industry has been facing well documented challenges with unprecedented rises in wholesale energy prices.
“The company has worked with key stakeholders and OFGEM to secure a Supplier of Last Resort (“SoLR”) and ensure continued services for its customer base. I would like to thank all parties for their work during this process and to British Gas, the confirmed SoLR.
She added: “We will be working closely with British Gas to ensure a smooth transition for all customers. Our priority is to preserve continuity. I would like to thank the employees of the Company for their ongoing support and hard work during a very difficult time.”