More than 650 workers face the prospect of redundancy after the scrap metals group Unimetals filed for compulsory liquidation.
The owners of Unimetals Recycling (UK) filed a winding-up petition for the business on Monday, after failing to find a buyer.
The scrap metals industry generates billions of pounds of revenue each year by recycling metals such as steel, aluminium and copper that can be made into new products. The switch to electric arc furnaces that melt down recycled steel has given added hope for the sector’s longer-term prospects.
Unimetals was founded in 2023 by Jamie Afnaim and Alec Sellem, two metals traders, according to UK company disclosures. On a social media profile Sellem described the group’s aim to buy up metals…