UK wire recycling firm shuts down

Pure Copper Recycling Ltd., a wire and cable recycling company based in Loughborough, England, has been placed in administration, the United Kingdom-equivalent of entering Chapter 7 bankruptcy and liquidation.

Manchester, U.K.-based Inquesta Corporate Recovery & Insolvency says it has been appointed as administrator of the assets of the firm, which had employed eight people when it closed.

Pure Copper Recycling formerly had purchased copper cable from a variety of commercial and industrial clients, including scrap merchants and tradesmen, according to its website. 

The wire and cable recycling was founded in 2018 and had been seeking new operating premises before it was shuttered, according to Inquesta.

“Due to a number of issues, the business was unable to continue trading and regrettably the employees have been made redundant,” says Steven Wiseglass of Inquesta. “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.”

According to a news release from Inquesta, in the period from Dec. 1, 2022, to Sept. 28, 2023, the Pure Copper Recycling business generated sales of 10.4 million British pounds ($13.25 million).