Energos goes into administration
Date: Thu, 14 Jul 2016 | Author: Paul Sanderson
The waste to energy gasification facility specialists Energos has gone into administration.
Administrators RSM Restructuring Advisory have been appointed to the company, which is based in Warrington and employed 42 people.
The company had contracts in place for four facilities with Viridor, Shanks and Interserve and two with Amey. All of these were still at the development stage.
In a statement, RSM Restructuring Advisory said that the directors of Energos made the decision to appoint administrators due to cash flow issues caused by contractual disputes with their two main contractors.
RSM Restructuring Advisory partner Lindsey Cooper said: “It’s early days, but we are working with our professional advisors to review the status of the current contracts with a view to maximising the returns to our creditors.”