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Sterecycle shuts after sale bid fails

Yorkshire energy from waste facility Sterecycle has closed after attempts to save the struggling operation failed.

Administrators from accountancy firm Mazars were appointed to the Rotherham-based company last month after a downturn in trading, and 70 of the staff were made redundant.

The company which had a turnover of around £7.1m, continued to operate in the hope of securing a buyer. However administrators said that despite interest from several interested parties a deal had not materialised.

Administrator Guy Hollander said: “Unfortunately it was not possible to achieve a sale of the business as a going concern. Consequently, it was necessary to close down the site on Monday and make the remaining 16 staff redundant.”

The company’s Rotherham facility was billed as the world’s first commercial scale autoclave waste treatment operation when it started up in 2008.

However the company cited a large drop in the fall of global recyclate prices as contributing to the company’s problems. It is also understood that the Barnsley, Doncaster and Rotherham (BDR) Waste Partnership’s desire to renegotiate its contract with the company had also caused difficulties.

Sterecycle had recently attempted to negotiate a takeover deal with SAO, a shell company used as a means of listing companies in Canada. Delays in the process were also blamed for contributing to problems.

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