On June 30, 2025, a United Kingdom court issued a formal winding-up order against three Prax group companies: Prax Lindsey Oil Refinery Limited, Prax Storage Lindsey Limited and Prax Terminals Killingholme Limited.
The court appointed official receiver Gareth Jonathan Allen as primary liquidator. Four special administrators from FTI Consulting LLP, Matthew Callaghan, Andrew Johnson, Joanne Hewitt-Schembri and Samuel Ballinger, were appointed to support this process.
[post_relacionado]According to Argus Media, employees were still working at the time of the court ruling, although future operational details remain unconfirmed.
Affectation of third parties and institutional communication
Customers, suppliers and subcontractors have been urged to communicate with the designated administrators at FTI Consulting. This is in order to manage in an orderly manner any outstanding obligations or receivables. The UK authorities stress that the process will be carried out in accordance with current corporate insolvency regulations.
The Prax Group maintains integrated refining operations, logistics and distribution. Although no detailed official statement has been issued by the group regarding the future of the Lindsey plant, its corporate website still describes the refinery as a 100% British-owned asset.
Prax Group assets at risk
The appointment of special administrators allows certain assets to be protected and essential functions to continue while the possibility of restructuring or partial sale is being evaluated. The authorities are expected to publish additional information on the process in the coming days, especially for creditors and related investors.
The Prax Group situation represents a high impact event within the UK energy sector, with implications for regional supply, associated jobs and local logistics chains.
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Source: GOV.UK
Photo: Shutterstock