A Leicestershire company which processed unused or discarded copper materials for resale has been placed in administration.
Steven Wiseglass, a director at Manchester-based Inquesta Corporate Recovery & Insolvency, has been appointed as administrator of Pure Copper Recycling Ltd.
Pure Copper Recycling, based in Gaddesby, had stopped trading while it sought new premises. All eight employees have since been made redundant.
The company, founded in 2018, was a granulation specialist which repurposed and recycled unused or discarded copper cables and materials bought from a variety of clients, including scrap merchants, tradesmen, waste sites and electricians.
In the period from December 1 2022 to September 28 2023, the business generated sales of £10.4m.
Steven Wiseglass said: “We have been appointed as the administrator of Pure Copper Recycling Ltd.
“Due to a number of issues, the business was unable to continue trading and regrettably the employees have been made redundant.
“We are now working with advisers to assess the value of the company’s assets and will then undertake a sale process with a view to securing a return for creditors.”
