Unimetals Recycling UK Files for Liquidation, 650 Jobs at Risk

Unimetals Recycling UK Ltd, one of the United Kingdom's largest metals recycling firms, has filed for compulsory liquidation, placing approximately 650 jobs at risk across its nationwide operations. The company, headquartered in Stratford-upon-Avon, is set to begin winding down as early as Tuesday following unsuccessful efforts to secure a buyer.

The liquidation filing comes after several notices of intention to appoint administrators in recent weeks. Advisers from Alvarez & Marsal led an accelerated mergers and acquisitions process, engaging potential buyers and investors in collaboration with stakeholders. Despite substantial interest, no deal was finalized, leaving the firm unable to meet its financial obligations.

A spokesperson for Unimetals stated, "We have worked tirelessly to explore every possible option to secure new financing for Unimetals Recycling UK Ltd, with the aim of meeting our financial obligations and safeguarding the future of the business." The process involved identifying potential partners, but ultimately proved fruitless. The spokesperson added, "Regretfully, despite substantial interest and attempts at completing a deal, no transaction was concluded."