The UK firm Pure Copper Recycling has gone into administration with the loss of all eight employees, according to reports.
MRW said that Pure Copper Recycling was founded in 2018 and was a granulation specialist which repurposed and recycled copper cables and materials. The directors are Wayne and Fiona Huckfield.
Steven Wiseglass, a director at Inquesta Corporate Recovery & Insolvency which is dealing with the insolvency, is reported as saying: ‘Due to a number of issues, the business was unable to continue trading and regrettably the employees have been made redundant. We are now working with advisers to assess the value of the company’s assets and will then undertake a sale process, with a view to securing a return for creditors.’
Reports show the business generated sales of £10.4 million (EUR 12 million) between December 2022 and October 2023.