REDcycle has accepted the offer made by the big two supermarket chains to take responsibility for the 12,400 tonnes of soft plastic stored by REDcycle in warehouses around the country, ahead of being declared insolvent today.
Coles and Woolworths made the offer to store the soft plastic stockpile themselves late last week, after a meeting of the Soft Plastic Taskforce, following the NSW EPA’s order that the stored plastic be sent to landfill as it posed a fire risk.
REDcycle, which had already been paid a reported $20m by Coles and Woolworths since the scheme started to take it away and recycle it, responded to the offer over the weekend, ahead of a court appearance today.
RG Programs & Services, which traded as REDcycle, was wound up…
