Sterecycle (Rotherham) Ltd (04393028): administration
- Status
- Administration ended
- Administration began
- 2012-09-18
- Administrators' firm
- Mazars
- Formerly
- Sterecycle Ltd; Toledo Recycling Systems Limited; Sterecycle Systems Limited; Toledo Recycling Systems Limited
- Incorporated
- 2002-03-12
- Location
- London
- Industry
- 38210 Treatment and disposal of non-hazardous waste
Why it went into administration
- Property / lease costs
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Loss-making contracts / project overruns
From the administrators' statement
In January 2011, a fatal accident at the Rotherham site significantly impacted the business with the site being closed for approximately three months The accident also resulted in subsequent difficulties in raising finance The cause of the accident 1s still subject to investigation by South Yorkshire Police (“the Police”) and the Health and Safety Executive (“HSE”)
In early 2012, the plant suffered from operational problems resulting in difficulties m meeting the increased contractual commitment from the Company’s mam customer BDR The capacity issue meant it was necessary for waste to be processed offsite by a third party which lead to significant cost overruns
In late Sprmg of 2012, delays were also experienced in the project to increase capacity at the Rotherham site, which involved the installation of a new front end materials recovery facility (MRF) These delays postponed the start-up of the expanded plant and the planned increase in revenues
Administrators' statement of proposals (2012-11-09) · Companies House register