26 jobs lost as energy-saving firm goes out of business

26 members of staff working for a County Durham-based energy saving firm have been made redundant after the company experienced "challenging trading conditions" and was forced to go out of business, a recent news report in the local business media has been able to reveal.

Billingham-based Tadea UK Ltd was established in 2002 and provided advice on energy saving, sustainable energy and renewable energy options. However, trading conditions at the not-for-profit business were "challenging" over recent months, which "placed pressure" on its performance and finances.

Finally, Nick Elliott and Matt Dunham of Smith & Williamson, the accountancy and investment management group, were appointed as joint administrators on 10 August 2015.

"Sadly there was no alternative but to close the business and all 26 staff have since been made redundant," said Nick Elliott.

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