Metals recycling firm Unimetals has filed for compulsory liquidation, putting around 650 jobs at risk. The company, which operates 27 sites nationwide, is expected to begin winding down as soon as Tuesday after efforts to find a buyer for the business failed.
It follows several notices of intention to appoint administrators in recent weeks, with advisers from Alvarez & Marsal managing discussions with possible buyers, but they were unable to secure a sale. A spokesperson for Unimetals said: “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.
“This included an accelerated M&A…