Warm Zones CIC goes into Administration
For immediate release
It is with deep regret that the Board of Warm Zones cic (WZ), the wholly owned subsidiary of NEA, has today put the company into Administration.
Warm Zones has been a key player in the energy efficiency world for many years. However, recent market conditions have been harsh and WZ is not the only company to have struggled. In addition, WZ is constrained by having, as a parent, a charity that is unable to provide financial assistance and whose charitable mission make certain commercial opportunities inappropriate.
Adam Scorer, Chief Executive of NEA commented:
“I want to pay tribute to the Senior Leadership Teams at WZ and NEA who undertook a full and deep review of the business. While they were able to identify a number of opportunities, they shone a light on significant challenges and liabilities within the business. Those challenges have proved to be too great for WZ to overcome and so the Directors have had no choice but to put the company into administration.
People at WZ have made a huge difference to lives of many households suffering from fuel poverty. They have delivered over 450,000 measures to over 370,000 households and secured over £56 million through income maximisation support. Last year alone WZ installed over 4,000 energy efficiency measures with a total capital value of over £17 million. These efforts have assisted NEA in delivering the charity’s mission to see an end to fuel poverty, and I thank all of the staff, past and present, for their passion and hard work.
I hope that administration will provide an opportunity for other market participants to take on some of the most experienced and expert people in the energy efficiency world. This is a moment of profound regret for NEA and for WZ. NEA’s mission and our work programme continue as normal.”
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