# Bulb Energy Ltd (08469555)

> Why UK company 08469555 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08469555

- **Status:** In administration
- **Administration began:** 2021-11-24
- **Administrators:** Matthew James Cowlishaw, Daniel Francis Butters, Paul James Meadows
- **Administrators' firm:** Teneo
- **Formerly:** Hanbury Energy Limited; Regent Power Limited
- **Incorporated:** 2013-04-02
- **Location:** Birmingham
- **Industry:** 35140 Trade of electricity

## Why it went into administration

- Energy costs
- Cash flow / liquidity pressure

## From the administrators' statement

The Company experienced a sharp increase in net losses and deterioration in cash flow due to increases in the price of wholesale gas and electricity from May 2021, which meant the Company was required to trade at a loss in order to maintain a continuity of supply to its customers.

The unprecedented levels of wholesale prices resulted in rapid increases in the levels of cash collateral required by energy suppliers, exacerbating liquidity constraints within the business.

Steps taken to remedy/turnaround

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08469555/filing-history/MzMyNzE0NzI1M2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08469555

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.