Monnow Valley CHP PLC (09278625): administration
- Status
- Administration ended
- Administration began
- 2023-07-21
- Administrators
- Marco Piacquadio, Alan Brian Coleman
- Administrators' firm
- FTS Recovery
- Formerly
- Monnow Valley CHP Limited; Bpuk2 Limited
- Incorporated
- 2014-10-24
- Location
- Knowlhill
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- COVID-19
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
- Regulatory change or action
From the administrators' statement
The Company was incorporated as BPUK2 Limited (“the Company”) on 24 October 2014 and the principal activity was the generation of renewable energy from dried woodchip to power the industrial estate in which it is located. The Company's objective was to maintain several biomass and Combined Heat and Power ("CHP") units which generated the power for the industrial estates.
The units were installed by the parent Company BPUK Limited, who also managed the operations and maintenance of the units within the Company.
The electricity generated through the production was sold to the business site and used on-site to further produce energy, with any surplus being exported to the National Grid. The heat which is generated by the CHP units is used to cure and produce wood chips which would be sold to other local businesses with a view to a profit.
Administrators' statement of proposals (2023-08-18) · Companies House register