Unimetals Recycling (UK) is preparing for potential administration after missing the final payment on its £195 million acquisition of Sims Metal’s UK scrap division. The company, which employs around 650 people across 27 sites, has filed a notice of intention to appoint administrators as it works to secure new investment.
The final instalment of £55 million from the deal remains outstanding more than three months after it was due. A major investor recently withdrew from a funding round intended to provide liquidity and meet deferred payments.
The Stratford-upon-Avon-based group is now exploring refinancing and recapitalisation options to stabilise its operations. It continues to run recycling and processing facilities for scrap, critical, and energy transition metals in locations including Bristol, Peterborough, Derby, Manchester, and Nottingham.
The company’s situation highlights ongoing funding pressures across the metals and recycling sector, where high capital requirements and fluctuating commodity prices are testing financial resilience.
