Colorado Energy Limited (11042663): administration
- Status
- Administration ended
- Administration began
- 2023-04-06
- Administrators
- Melanie Reevel Giles
- Administrators' firm
- PJG Recovery (ni)
- Incorporated
- 2017-11-01
- Location
- Cardiff
- Industry
- 35140 Trade of electricity
Why it went into administration
- Regulatory change or action
- Energy costs
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 1 November 2017, but did not commence trading until 1 May 2020, and has operated as a supplier of domestic gas and electricity in the UK mainland market, which included approximately 28,000-meter points (equating to approximately 15,000 domestic customers).
The primary purpose for the establishment of the Company, was to be a white-label for Lawdeck, to service its “Homeshift” brand. The operating model of Homeshift established a network of letting agents, investment property owners and private landlords, thus offering a convenient range of household utility products and services by way of bundled packages to their tenants. Homeshift used facilities provided by a number of suppliers, of which the Company exclusively supplied the electricity and gas elements, and has historically managed the collection of all funds directly, via its customised customer accessible operating platform.
The Company was licensed by the Office of Gas and Electrics Market (“OFGEM”}, a nonministerial government department and an independent National Regulatory Authority, to
Administrators' statement of proposals (2023-06-06) · Companies House register