• Main operating business sold after being placed into Administration
• Company to be placed in Creditors Voluntary Liquidation
The directors of Eneraqua Technologies (ETP: suspended), a provider of heating, hot water heat pump systems and water efficiency solutions, are taking steps to place the company into Creditors Voluntary Liquidation.
Earlier this month, the shares were suspended after the group’s main operating subsidiary, Cenergist, was placed into administration as it had insufficient funds to continue trading as a going concern. This was due to an adverse adjudication award relating to a contractual dispute that required £1.2mn to be paid within five days. Eneraqua was unable to make the payment because of cash flow…