Bulb could be the next one

wild666

https://www.dailymail.co.uk/money/markets/article-10058021/Ovo-set-bid-stricken-energy-supplier-Bulb.html

Ovo are set to bid for stricken energy supplier Bulb. 
I really thought the supplier wouldn't get in trouble but it seems that they are. If Ovo takes them over they will be the second biggest supplier after British Gas.

If a takeover doesn't go ahead they might be the next supplier out of business!

brewerdave

End of last week ,Octopus were supposed to be looking at Bulb.

[Deleted User]

A buy out is not quite the same as a business failure. It will be interesting to see if any supplier that takes over Bulb, if this happens, will honour existing contracts. In another newspaper, it is reported that Octopus has also been carrying out Due Diligence on Bulb’s accounts.

Bulb is reported as having paid all its Green dues in August,  and the sole challenge that it faces is the refinancing of a £53M loan. One industry expert has suggested that Bulb might still be able to weather this storm without outside help.

Penguin_

Already switched to Scottish Power, £125 cash back with TCB & a £60 naked wines voucher.

UnclaimedEnergy

brewerdave said:

End of last week ,Octopus were supposed to be looking at Bulb.

They only got access to the information that's being provided by Bulb to try and get finance.

Even if you're not actually interested in bidding, it's always worth having a look at some inside-stuff on competitors.

bristolleedsfan

UnclaimedEnergy said:

brewerdave said:

End of last week ,Octopus were supposed to be looking at Bulb.

Even if you're not actually interested in bidding, it's always worth having a look at some inside-stuff on competitors.

Made a fantastic headline for the only energy company  stated to be " among the parties" that was named at the time.