The UK energy firm is closing its doors after a spike in global gas prices and is now poised to go into administration. A judge in a specialist court on Monday concluded that Orbit Energy was insolvent. Judge Nicholas Briggs considered Orbit’s case at an online hearing in the Insolvency & Companies Court.
Judge Nicholas Briggs considered Orbit’s case at an online hearing.
The hearing took place at the Insolvency & Companies Court.
Lawyers representing Orbit Energy asked the judge to make an administration order.
The lawyers representing regulator Ofgem then approved the move.
The collapse of Orbit Energy brings the number of households affected by a supplier failure since August close to the 4 million mark.
More to follow…