Welsh company Plastic Sorting Limited has gone into administration and has been put up for sale by its administrators.
The company runs the largest PET reprocessing plant in the UK. It employed 30 people and had an annual turnover of around £1.2 million, according to the administrators Begbies Traynor.
Three employees have been retained to advise the administrators with the remaining 27 made redundant.
Plastic Sorting Limited is a venture involving social enterprise and the private sector with the support of the Welsh Assembly Government and the Charity Bank. It buys in empty plastic drinks bottles and sorts, washes and chips them for resale to the plastics industry.
Begbies Traynor partner Dave Hill who is overseeing the ongoing business with fellow Cardiff-based partner Peter Dewey said: “We are continuing to trade the business while we conduct a review of its operations and look for a buyer to take on the business as a going concern.”
Anyone interested has until the close of business on 6 February to register an interest with Begbies Traynor, 5th Floor, Riverside House, 31 Cathedral Road, Cardiff, CF11 9HB or by telephoning 029 2022 5022.
