A Manchester-based gas and electricity company with in the region of 15,000 UK customers has entered administration
Zebra Power has 21 employees and administrators PwC has not said any jobs have been lost.
Jane Steer and Eddie Williams of PwC have been appointed as joint administrators of the firm after it experienced "financial challenges" as a direct result of the sharp increase in wholesale gas and electricity prices.
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In October, the company’s gas supplier also advised it of its intention to withdraw from the wholesale gas market.
PwC added that Zebra was unable to secure alternative services at a viable price and consequently the directors took steps to place the company into administration.
Jane Steer said: "The energy industry has been facing well documented challenges with unprecedented rises in wholesale energy prices.
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"The company has worked with key stakeholders and OFGEM to secure a Supplier of Last Resort 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."
