Unimetals Recycling (UK) Limited, the former British metals recycling arm of Sims Limited, has filed a notice of intention to appoint administrators. Parent company Unimetals Group confirmed the filing and noted that the application, lodged on 13 October, temporarily protects the company from creditor action and allows it time to review options with its stakeholders.
Sims had agreed to sell its entire UK Metal division to Unimetals Group Ltd for about £195m (approximately €230m) in after-tax proceeds, including the value of retained working capital. The deal, announced in mid-2024, marked Sims’s withdrawal from the British market after a strategic review of the operations which included four shredders and 28 facilities, among them three port sites. The UK Metal business's approximately 660 employees were all to transfer to Unimetals. The parties to the transaction had agreed to a staged payment of the capital component of the offer....
