Administrators appointed to failed energy supplier

The joint administrator explained that Pure Planet faced “significant liquidity challenges”

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Supplier Pure Planet Limited (PPL) that ceased to trade last week has appointed three members of PwC as joint administrators.

The company supplied energy to approximately 235,000 customers.

A few days ago, Ofgem announced that Shell Energy will take on these customers.

Eddie Williams, PPL joint administrator, said: “The current challenges facing the domestic energy market due to the spike in wholesale prices have been well documented. Against this backdrop, the group faced significant liquidity challenges, leading to a position where the business was unable to continue operating.

“Our initial priority as administrators is to work closely with Shell Energy, the incoming supplier for PPL’s Members on an orderly and efficient transition and to provide ongoing support around this process.”

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