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EXCLUSIVE: M Baker Recycling to enter into administration

M Baker Recycling is set to formally enter into administration next week, a source close to the company told MRW. The Waste Electrical and Electronic Equipment (WEEE) processor will talk to its bank on Monday to enter into administration while looking for a buyer with many parties now in discussion with KPMG according to the source. Company management, said the source, cite the reasons for the potential closure of the business as a lack of enforcement of the WEEE regulations and a cash flow squeeze. The source added: Unsustainable, low market prices [have contributed] driven by a small number of companies wishing to flood the industry with low or nil prices in order to gain the whole market while being unable to treat the volume of WEEE they have received. This has led to huge stockpiles at those sites still operating. There has also been the fact that some compliance schemes have refused to pay for any work including the haulage until they received the evidence notes and the metal companies who M Baker Recycling traded with refusing to issue the necessary supporting documentation for it to be able to issue the notes. The volume of WEEE predicted is nothing like what has arisen. Fridges in particular must be exported on mass, especially non-CFC units, and across the country the volumes arising at designated collection facilities or other sources is 25% down on normal year figures from what other approved authorised treatment facilities have said. This has to be a concern to the Agencies. M Baker Recycling was subject to a management buy-out by Julie-Ann Adams and Andy Slaney from its founder Michael Baker following his retirement in May last year. It is unclear at this stage what will happen to them and employees of the company. The company has offices in Exeter and a plant in St Helens, Merseyside (pictured).

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