Unimetals Recycling (UK) Ltd, a major player in the nation’s metal recycling and processing sector, has filed a second notice of intention to appoint administrators. The move provides the company with additional time to secure funding as it continues its search for new investment.
Headquartered in Stratford-upon-Avon, the business had previously lodged its first notice earlier this month after failing to raise the capital needed to finalise a £195 million deal to acquire Sims Metals UK. Its primary investor has since withdrawn from the funding process, delaying progress toward completion.
Unimetals is continuing formal discussions with potential financiers after reporting strong interest from multiple parties. The company said the extra period granted by the second filing will allow it to pursue a binding agreement aimed at stabilising operations and ensuring the continuity of its business relationships across employees, suppliers, and customers.
