Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Technology
Hannah Baker

Swindon recycling company collapses into administration with loss of jobs

A Swindon-headquartered plastic recycling company has collapsed into administration. Recycling Technologies Group appointed Nick Holloway and Will Wright of business advisory firm Interpath Advisory on Monday (September 26).

Founded in 2011, the the business developed a patented technology to mass recycle plastic waste away from landfill sites and into feedstock for new plastic production. The group is headquartered in Wiltshire, alongside its manufacturing facility and pilot plant, with an additional site in Perthshire, Scotland.

The administrators said operations have now ceased and the majority of the group’s 73 employees have been made redundant, with a small number retained to assist the joint administrators with the closing down of its sites.

Mr Holloway, managing director at Interpath Advisory and joint administrator, said: “Our immediate priority is to assist those members of staff who have been made redundant, providing them with the support and information they need to make claims to the Redundancy Payments Service.

"We will also be looking to realise the assets of the business and its intellectual property, and would encourage any interested parties to contact us as soon as possible.”

In recent months, Recycling Technologies Group had embarked on a process to seek additional investment in order to complete its development phase, according to Interpath Advisory. However, the process was unsuccessful and with insufficient funds available to run day-to-day operations the directors took the decision to file for the appointment of administrators.

READ NEXT

Like this story? Why not sign up to get the latest South West business news straight to your inbox.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.