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Rescue, Recovery, and Closure Options for the Energy Sector
Energy suppliers are undergoing a period of immense upheaval and market uncertainty, making planning for the future an almost impossible task. Energy company's are having to juggle ensuring adequate supplies of gas and electricity are available at fair prices, while also taking into account growing environmental responsibilities and still showing a profit to investors.
Escalating wholesale gas prices have sent the market into a tailspin, with many smaller providers who failed to hedge their prices going to the wall as a direct result. While the thinning out of the competition coupled with more customers looking for a safe and stable energy provider may seem like good news for those still operating in the industry, the reality is that there are huge challenges to be faced both financially and operationally.
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If the pressures on your energy or utility company have become too great, it may be the case that options for closing the company need to be considered. As the director of an insolvent company, you have a legal responsibility to prioritise the interests of creditors and shield them from incurring any further losses. You can ensure you adhere to these responsibilities by seeking the services of a licensed insolvency practitioner at the earliest signs of financial distress.
If your company's financial problems have become too great to manage, you can ensure an orderly winding down of the business and its operations by placing it into liquidation via a process known as a Creditors' Voluntary Liquidation (CVL). A CVL will bring about the end of your company and ensure all creditors are dealt with appropriately and in accordance with the Insolvency Act 1986.
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Despite the challenges facing the energy industry, it is worth remembering that with adversity also comes opportunity, and Real Business Rescue are dedicated to helping you achieve long-term success, no matter what the future looks like.
This can be achieved through a range of methods including comprehensive risk management and contingency planning to ensure the business can be robust against future potential threats; securing outside funding to help drive innovation, protect supplies, and boost working capital; through to formal restructuring solutions to improve the financial and operational efficiency of the company by simplifying a complex corporate structure, reducing overheads, and identifying non-performing areas of the company.
Our energy and utilities experts have the knowledge and the experience needed to steer your company through these trying times, and ensure it is in the best position possible for whatever the future has in store.
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Our expert and non-judgemental team are ready to assist directors and stakeholders today.