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Utility Alliance Ltd s head office at Hartlepool marina.
Established in 2015 with just six staff on the Queens Meadow business park in Hartlepool, Utility Alliance helped businesses to manage their utility bills through consultancy and specialist technology.
It enjoyed rapid growth, employing over 500 people at one point and opened offices in Sheffield and Newcastle.
But Covid-19 is said to have caused significant financial challenges as businesses used less energy.
The administrators also revealed that as well as trying to secure new investment, bosses tried to sell the business last year without success.
FRP say say they will now work with the staff affected to access all available support, and the business’s creditors.
Energy consultancy Utility Alliance goes bust
The closure is estimated to result in a loss of 310 jobs
The energy consultancy Utility Alliance is to go into administration.
The ceasation of operations is estimated to result in a loss of 310 jobs in Hartlepool, Sheffield and Newcastle.
According to reports, Utility Alliance’s Directors said the pandemic hite the company hard, which saw revenues plunge.
The company’s website has now been taken offline and the phone lines are out of service.
In February 2020, in an awards ceremony backed by the Sunday Times, the Teeside-based firm retained its place as one of the top 100 companies in the UK to work for.
A sad day : Heartbreak as hundreds of jobs set to go at Hartlepool energy company
It is understood 240 jobs will be lost at the Hartlepool headquarters
Updated
Utility Alliance building at Hartlepool Marina (Image: Ian Cooper / Teesside Live)
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HUNDREDS of jobs have been lost in Hartlepool as a major employer in the town has gone bust. Energy consultancy Utility Alliance is set to go into administration, resulting in the loss of 240 jobs in Hartlepool, plus a further 70 in offices in Sheffield and Newcastle. Staff at energy consultancy Utility Alliance based on Hartlepool marina were informed of the bad news on Thursday morning (January 28). Directors for the company, which had a turnover of £21million, blamed the impact of the pandemic and said they did everything they could to find new investment. It is understood administrators will be called in from Monday, February 1.