Jane Steer and Eddie Williams of PwC have been appointed as joint administrators of Zebra Power Limited.
Zebra is an energy retailer supplying gas and electricity to approximately 15,000 domestic customers. The Company is headquartered in Manchester and has 21 employees.
Zebra had been experiencing financial challenges as a direct result of the sharp increase in wholesale gas and electricity prices. In October 2021, the Company’s gas supplier also advised the Company of its intention to withdraw from the wholesale gas market.
Zebra was unable to secure alternative services at a viable price and consequently the Directors of Zebra took steps to place the company into administration.
Jane Steer, Zebra Power joint administrator and PwC partner, said:
“The energy industry has been facing well documented challenges with unprecedented rises in wholesale energy prices.
“The Company has worked with key stakeholders and OFGEM to secure a Supplier of Last Resort (“SoLR”) and ensure continued services for its customer base. I would like to thank all parties for their work during this process and to British Gas, the confirmed SoLR.
“We will be working closely with British Gas to ensure a smooth transition for all customers. Our priority is to preserve continuity. I would like to thank the employees of the Company for their ongoing support and hard work during a very difficult time.”
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 156 countries with over 295,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at PwC.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see how we are structured for further details.
© 2021 PwC. All rights reserved