Interpath Advisory has announced that Steve Absolom and Will Wright were appointed joint administrators to Bluegreen Energy Services Limited on 11 November 2021.
Bluegreen Energy is an energy retailer, supplying gas and electricity to approximately 5,900 domestic customers, as well as a small number of small and medium enterprises. It has no direct employees.
The company had been experiencing significant financial challenges as a result of the recent well-publicised material increases in wholesale gas prices.
Following the withdrawal of financial support from its Dutch parent and after considering a number of options, the director took the difficult decision to place the business into administration.
The company ceased to trade on 1 November 2021, with Ofgem subsequently appointing British Gas as the new supplier for all Bluegreen’s customers.
Absolom said: “We continue to see the significant impact that recent spikes in wholesale gas and electricity prices are having across the energy market. For Bluegreen and so many other suppliers, the challenges regrettably proved to be insurmountable.
“Our priority over the coming days is to work closely with British Gas to ensure a smooth transition for all Bluegreen customers.”