The receivers have been called in at West Midlands-based Independent Energy Holdings plc after the company had to suspend trading in its shares this morning.
Following this morning's announcement, Roger Oldfield and Myles Halley of KPMG Corporate Recovery have been appointed as the joint administrative receivers.
Independent Energy Holdings employs around 160 people, is headquartered in Solihull near Birmingham and currently serves 242,000 business and residential customers across the country.
OFGEM (The Office of Gas and Electricity Markets) have been quick to stress that supply to all customers will not be affected.
Commenting on the appointment, Myles Halley said: "Under our control, the company will continue to trade as normal and we have already had expressions of interest from several parties."
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