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The £750,000 debt that haunts new recycling firm

A family involved with two failed recycling companies - which racked up debts of more than £750,000 - has links with a new firm on the same business park.
Ronald Leveridge has founded Riverside Recycling after East Yorkshire Recycling followed East Yorkshire Waste into liquidation.
Ronald's son Stuart Leveridge was a director at East Yorkshire Waste, which entered liquidation in October 2003 owing £541,126 to a total of 90 companies.
Ronald bought the assets from that company before it went bust and used them to launch East Yorkshire Recycling, on the same Anchor Park Trading Estate.
Stuart was also a director at that firm, but it was refused an operating licence and struggled with debt.
Insolvency practitioners were this month appointed to liquidate East Yorkshire Recycling, with 83 unsecured creditors named to the tune of £244,952.
But Ronald had already re-purchased the assets - and in January started Riverside Recycling, on the same Hull trading estate, as director.
Vehicle parts supplier Eastern Commercials was left £7,395 out of pocket when East Yorkshire Waste entered liquidation, and is still seething over the debt.
Eastern Commercials secretary Glynis Clark said this week: "We didn't get a penny from them and it nearly took us down.
"We are only a small, family company and we have never really recovered from losing that amount of money.
"There are lots of small traders on the East Yorkshire Recycling creditors list, and it will really hit them hard."
Ronald Leveridge said: "Riverside Recycling is a different company, and I will make it work. I had nothing to do with the old companies - I just put my money in.
"I lost a lot of money through East Yorkshire Recycling and I am trying to recoup it."

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