Tue, 01 Dec 2015 | ADMINISTRATION
West Midlands-based textiles recycling firm BCR Global Textiles Ltd is on the verge of entering administration.
The company, which is better known as Black Country Rags, ceased trading on Monday (30 November) and has reportedly chosen Poppleton & Appleby of Birmingham to be its administrators, although this is yet to be confirmed.
The closure, after 30 years of trading, is likely to result in between 50 and 60 employees losing their jobs, letsrecycle.com reported.
An automated message was left by the company to its creditors to inform them of the impending insolvency. The message states: "Due to unforeseen circumstances the company has ceased to trade. If you are a creditor you will be contacted in due course by the appointed administrator."
BCR has been described as the "backbone" of the textile recycling industry. It works with local authorities and charities to promote its recycling banks.
Many charities take the textiles that BCR collects and transforms them into new items, which are sent to people in need both in the UK and abroad.
One such example is the charity, Against Breast Cancer, which recycles bras. BCR opened its first textile bank in West Bromwich last month to raise donations for the charity, but this partnership has now been ended.
A spokesperson told letsrecycle.com: "We understand that these things happen. We have communicated and worked with BCR to ensure that the final funds make their way to us and that the recent collection of recycled bras make their way to Africa."
View other businesses in administration.
This represents a unique opportunity to acquire a profitable assisted nursing/living facility in the serene region of Yorkshire.
FREEHOLD
This is an opportunity to acquire a well-established company valued at over a million pounds, supported by a dedicated and hardworking team.
Opportunity to acquire a well-established dental practice in a prime North West London location, ideal for expanding your portfolio or stepping into practice ownership.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.