Financial advisory firm Interpath Advisory has been appointed administrator to Bluegreen Energy Services Limited.

The supplier announced its exit from the market on 1st November saying they had “found ourselves in an unsustainable situation.”

The company had been experiencing significant financial challenges due to the increases in wholesale gas prices.

The energy retailer supplied gas and electricity to nearly 5,900 domestic customers and a small number of small and medium enterprises.

A few days after the announcement for the closure of Bluegreen Energy Services, Ofgem appointed British Gas as the new supplier for the company’s customers.

Steve Absolom, Joint Administrator and Managing Director at Interpath Advisory, said: “We continue to see the significant impact that recent spikes in wholesale gas and electricity prices are having across the energy market.

“For Bluegreen and so many other suppliers, the challenges regrettably proved to be insurmountable.”