North West Biomass Limited (10188625): administration
- Status
- Administration ended
- Administration began
- 2022-08-16
- Administrators
- Robert Andrew Croxen, Adam Paxton
- Administrators' firm
- Alvarez & Marsal
- Formerly
- Newbridge Energy (TIR Llwyd) Ltd
- Incorporated
- 2016-05-19
- Location
- Brighton
- Industry
- 35110 Production of electricity
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 19 May 2016 as Newbridge Energy (Tir Llwyd) Ltd. It changed its name to North West Biomass Limited on 21 June 2016.
As detailed above, the Company earns income from selling the power it generates and receiving ROCs and RHI payments. It also dries wood chip that is owned by BFL, which is then processed into finished goods by BFL.
The Company operated from leasehold premises in Tir Llwyd, North Wales. The Company did not employ any staff as at the date of our appointment.
Administrators' statement of proposals (2022-08-30) · Companies House register