Fri, 07 Sep 2012 | ADMINISTRATION
Loddon Recycling was pushed into administration following the outbreak of a fire that badly damaged its premises.
The Hampshire-based battery recycling business entered administration back in July, but a new report has now confirmed that a fire back in 2011, which caused “substantial damage” to the machinery and the 400 tonnes of batteries on site, was to blame.
Administrators Anthony Davidson and Stephen Ryman of Shipleys were appointed to handle the administration and the sale of the business and its assets to Silver Lining Industries Ltd for £17,000.
The administrators stated that the cost of recycling the batteries increased due to the fire damage and the business was simply unable to afford this excess. It was decided that a pre-pack sale would preserve the value of the business and its assets, hence the decision to hand over to Silver Lining.
Only a handful of companies have a certificate to prove that they are members of the Battery Take Back Scheme, a respected recycling project of which Loddon was a member.
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