Utilitywise shares suspended as it calls in the administrators

14th Feb 2019 12:21

(Sharecast News) - Utilitywise announced on Thursday that Andrew James Johnson and Chad Griffin, both of FTI Consulting, had been been appointed as joint administrators to the firm.The AIM-traded business said no other companies in its group have had administrators appointed and as such, Icon Communication Centres, Energy Intelligence Centre and T-Mac Technologies continued to trade on a business as usual basis."There is not expected to be any return to the shareholders of Utilitywise," the board said in its short statement.FTI Consulting LLP would provide further updates in due course, it added, before also confirming that the shares of Utilitywise would remain suspended pending further notice.The business utilities consultancy had struggled in recent months, blaming what it called "legacy issues" and changes in the way it could do business for its ailments.Some hope had appeared earlier in the week, after founder and ex-CEO Geoff Thompson said he was mounting a "credible" rescue package for the firm.