Electraphase Limited (09485442): administration
- Status
- Administration ended
- Administration began
- 2018-07-26
- Incorporated
- 2015-03-12
- Location
- Sutton Coldfield
- Industry
- 35140 Trade of electricity
Why it went into administration
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 12 March 2015. The objective was to provide electricity for both business and domestic customers with exceptional levels of service and competitively priced tariffs, with a view to try and eliminate the need of its customers to regularly switch their suppliers.
The nature of the industry is such, however, that it takes a considerable amount of time before a completely new start-up Company can obtain the necessary accreditations and licences that it requires before it can actually trade as an electricity provider and, as such, the Company did not actually started to provide electricity until 1 July 2016.
The initial phase of the business model required significant ‘upfront’ investment which accounted for the associated cost of set up, as reference above. The next ‘phase’ was growing the business and developing the customer base from a starting point of nil.
Administrators' statement of proposals (2018-10-05) · Companies House register