Jobs saved in biofuels company rescue deal

More than 100 jobs have been saved after a biofuels firm was rescued from administration.

Quatra UK has bought the business and assets of Lifecycle Oils.

Officials say the move for the Walsall-headquartered operator – known for collecting and processing used cooking oils – has preserved all 116 staff.

They add the firm’s head office, a production base in nearby Wednesbury and a number of remaining sites will continue to operate, though six leasehold microsite hubs will close.

Headquartered in Belgium, Quatra collects and processes used cooking oils and fats across ten countries.

Joint administrator Mike Denny, of professional services firm Alvarez & Marsal, said: “Through the sale of Lifecycle Oils, we are very pleased to have secured the company’s role in the UK’s cleaner energy transition and preserved employment.

“We wish the company and its new owners every success for the future.”

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