The energy market has been hit by tough regulation, including a Government-enforced price cap on standard variable tariffs amid anger over rising bills.

Spark chief executive, Chris Gauld, and finance chief Hamish Osborn, led a management buyout of the firm in 2016.

Mr Gauld said last week that the rising costs of wholesale energy and the price cap were hammering the sector.

Spark was founded in 2007, has a turnover of more than £200 million and also has around 15,000 broadband and telecoms customers.