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24
Jan 2022
The state of CNG Energy’s finances has been revealed after its administrators published its first report into the company.
The Harrogate-based company, which had offices on Victoria Avenue, fell victim to spiralling wholesale gas and electricity prices and went out of business last year.
A report published by Interpath Advisory, the administrators appointed to take charge of the company, has revealed CNG owes £3.6 million to HMRC and other “secondary preferential creditors”.
Although the administration process is still in the early stages, the report says it expects to pay “a dividend” to those creditors.
The report says:
The company also owes more than £4 million to trade creditors and £6 million to consumer creditors.
London-based IT consultancy firm Gentrack UK Ltd is owed £450,759 and is among the highest creditors in the report.
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