A number of interested parties are bidding to buy Renewcell, reports bankruptcy administrator Lars Henrik Andersson. Could this save the Swedish textile recycler after all?
It’s uncertain who has offered to step in, how much are they are bidding or on what terms. The winning bid may acquire Renewcell’s complete business model and continue the production of its recycled cotton product Circulose. It’s also possible the textile recycler will be broken up for parts.
Andersson has not commented in detail, only confirming there are ‘multiple bids’ on the table. These came in just before the 28 March deadline and are subject to a standard review period.
Final decisions will be made mid-April.
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