CNG Electricity Limited (09263237): administration
- Status
- Administration ended
- Administration began
- 2021-11-30
- Administrators
- Howard Smith, William James Wright
- Administrators' firm
- Interpath Advisory
- Formerly
- Silver Energy Supply Limited
- Incorporated
- 2014-10-14
- Location
- London
- Industry
- 35140 Trade of electricity
Why it went into administration
- Funding withdrawn / unable to refinance
- Regulatory change or action
- COVID-19
- Sustained trading losses
- Cash flow / liquidity pressure
- Loss of key people
From the administrators' statement
The Company was incorporated on 14 October 2014 and changed its name from Silver Energy Supply Limited to CNG Electricity Limited on 18 June 2016. A corporate reorganisation was undertaken in November 2019 which resulted in the current Group structure set out above.
The principal activity of the Company is that of an electricity supplier, supplying electricity to small and medium enterprises which equated to approximately 306 meter points.
The Company traded from leasehold premises in Harrogate, North Yorkshire, and was wholly owned by CNG Group. The Company had two statutory Directors until 20 October 2021, when the Group CFO formally resigned as a statutory Director. Whilst he remained in his operational post as CFO until the date of administration, there was only one statutory Director, the CEO, from 20 October 2021 until administration.
Administrators' statement of proposals (2022-01-18) · Companies House register