HMRC has filed a petition to wind up a North East energy brokerage while it is in the middle of a restructuring process.
Great Annual Savings Group (GAS) is among a number of regional energy consultancies which have expanded at a rapid rate in recent years and currently has around 160 members of staff at its head office in Seaham, County Durham. The company – launched 10 years ago and a former Sunderland shirt sponsor – helps businesses to reduce their variable costs in energy, water, telecoms, merchant services and insurance and has around 14,000 customers across the UK and Ireland.
Despite the pandemic, which led to the company furloughing large numbers of staff, revenue remained consistent at around £20m in most recent accounts covering the year ended June 2021. However, the last year has seen the firm reduce its headcount from 300 to its current level of 160 employees and it has also been battling rising costs.
