Simple Energy Limited (09249540): administration
- Status
- Administration ended
- Administration began
- 2021-11-24
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2014-10-06
- Location
- London
- Industry
- 64204 Activities of distribution holding companies
Why it went into administration
- Energy costs
- Creditor pressure / legal action
- Sustained trading losses
- Regulatory change or action
From the administrators' statement
The Company was incorporated on 6 October 2014. It is the parent company of Bulb UK and BIHL. Its main activity is the provision of various intellectual property, IT software, and the employees that support Bulb UK and the international subsidiaries.
At the date of our appointment, the Company had 855 employees and traded from leased premises at 155 Bishopsgate in London, and Brighton.
In June 2021, the Group was part restructured and the Company sold all of its shares in BEI, BF and Bulb Energy US Inc to BIHL, which remains a wholly owned subsidiary of the Company. This transaction was a 'share for share’ sale such that the Company received the same amount of share capital in BIHL as consideration and there was no profit/loss arising from the transaction.
Administrators' statement of proposals (2022-01-12) · Companies House register