Partner Article

82 jobs saved as three Humber recycling companies call in administrators

Three waste and recycling companies based in Scunthorpe and Gainsborough have gone into administration.

The companies have appointed joint administrators from The P&A Partnership who have managed to save all 82 jobs.

Chris White and Gareth Rusling were appointed administrators to Thompson Metals Limited, Thompson Waste Management Ltd and Thompson Waste Management (Gainsborough) Ltd on 24 December 2013 and completed the sale of assets for £170,000 on the same day to Thompson Waste Recycling Limited.

Chris White said: “These businesses dealt in waste and scrap metal and had built up large liabilities, partly due to increased costs of implementing new legislation.

“HMRC, which was owed £500,000 across the three companies, had obtained a walking possession order for plant and machinery, critical to the businesses. This sale ensures the protection of all employees’ jobs.”

The P&A Partnership is an insolvency firm with offices across the UK. Its support for business includes restructuring, finance broking, debt collection and selling assets.

This was posted in Bdaily's Members' News section by Clare Burnett .