Independent gas retailer E-Gas went into voluntary liquidation yesterday.E-Gas, which supplies 7,000 gas consumers in the North Island, has faced “increasingly difficult trading conditions together with other non recoverable increasing operational c
Independent gas retailer E-Gas went into voluntary liquidation yesterday.
E-Gas, which supplies 7,000 gas consumers in the North Island, has faced “increasingly difficult trading conditions together with other non recoverable increasing operational costs,” liquidators BDO said in a statement today.
BDO have said they will work to ensure there is no disruption to customers and their gas supply as a result of the liquidation.
“The liquidators’ objective is to preserve the businesses operations and value,” BDO said in a release today. “We have received expressions of interest from a number of parties interested in purchasing the business.”
E-Gas entered the market over nine years ago as a private and independent retailer.
According to media reports, a significant increase in security costs to gas network company Vector and lengthy litigation with Todd-owned NovaGas contributed to yesterday’s decision to enter liquidation.
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