Avro Energy Limited (09174794): administration
- Status
- Administration ended
- Administration began
- 2021-09-29
- Administrators' firm
- Alvarez & Marsal
- Incorporated
- 2014-08-14
- Location
- Brighton
- Industry
- 46719 Wholesale of other fuels and related products
Why it went into administration
- Regulatory change or action
- Cash flow / liquidity pressure
- Energy costs
- COVID-19
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 14 August 2014 and was granted gas and electricity supply licences on 27 July 2015. The Company is wholly owned by Avro Group Limited and was headquartered in Hinckley, Leicestershire with approximately 100 employees.
The Company was a retail energy supplier, providing gas and electricity to approximately 580,000 domestic customers in the UK. The Company had no energy generating capacity of its own and as a result, it purchased all gas and electricity needed for consumption by its customers from other participants in the wholesale market.
The Company was licensed by the Office of Gas and Electricity Markets Authority (“Ofgem”) to supply gas and electricity to domestic premises.
Administrators' statement of proposals (2021-11-16) · Companies House register