Sat, 17 Nov 2018 | ADMINISTRATION
A North Shields-based non-profit business dedicated to helping low income families stay warm has gone into administration after suffering trading difficulties and cash flow problems.
Warm Zones assists low-income earners stay warm during the colder months by addressing fuel poverty.
Partnering with local authorities, social housing providers and communication organisations, the company provides energy efficient assessments, installation of insulation and heating, and additional funding for vulnerable households across the country.
Andrew Haslam and Gordon Goldie from FRP Advisory have been appointed as joint administrators. A hunt for a new buyer is underway for the not-for-profit business so it can continue doing its charitable work.
Haslam, an insolvency specialist at the Newcastle branch of FRP Advisory, said: "Warm Zones delivers a worthwhile service and one that is particularly important at this time of year. As a priority, we are working closely with various stakeholders to carry out a review of the business and will be considering all options available.
"This includes a review of all ongoing projects to assess the viability of a sale of the business, while working closely with the directors to ensure that we achieve the best possible outcome for everyone involved."
Established in 2000, Warm Zones is a not-for-profit Community Interest Company and UK’s leading charity that aims to end fuel poverty. The company delivers practical ways to improve energy efficiency across Great Britain and is a wholly owned subsidiary of National Energy Action (NEA).
The company is made up of 32 employees, with the majority employed in the North East.
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