Magnum Utilities Ltd. (09415883): administration
- Status
- Administration ended
- Administration began
- 2022-05-09
- Administrators
- Paul Berkovi, John Noon
- Administrators' firm
- Alvarez & Marsal
- Formerly
- Eccles Metering Services Limited
- Incorporated
- 2015-02-02
- Location
- Brighton
- Industry
- 35130 Distribution of electricity
Why it went into administration
- Loss of a key customer, supplier or contract
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
The Company was incorporated in 2015. From 2016, it operated in the energy industry as an accredited smart meter installation business, with services including meter asset management. Prior to administration, the Company had completed over 400,000 smart meter installations and managed up to 1 million meter points. Its customer base included both ‘Big 6’ and ‘challenger brand’ energy retailers.
The head office was based in Bolton, Lancashire (“Bolton head office”) and the Company also leased a warehouse in Barwell, Leicestershire (“Barwell warehouse”).
At the date of administration, the Company had 28 employees, all of whom were based in the Bolton head office.
Administrators' statement of proposals (2022-05-18) · Companies House register