Connect Recycling Limited (10578267): administration
- Status
- Administration ended
- Administration began
- 2021-04-26
- Administrators
- Richard Paul James Goodwin, Roderick Graham Butcher
- Administrators' firm
- Butcher Woods
- Incorporated
- 2017-01-23
- Location
- Birmingham
- Industry
- 38110 Collection of non-hazardous waste
Why it went into administration
- COVID-19
- Rising costs / inflation
- Sustained trading losses
- Brexit
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator.
The Company commenced trading on incorporation operating as a brokerage for recycling commodities focussing principally on the UK market place. In 2018 the Company became a consultant for another UK based brokerage, a position which lasted until 2019 when it was decided to explore new markets, with significant turnover resulting from shipments across Europe and particularly to Turkey.
in November 2019 the Company began to experience some issues when a large number of containers were stopped at port by the Environment Agency who suspected non-compliant waste was being shipped. Their investigation concluded with the Company being cleared of any wrong doing. Despite being cleared, the Company suffered significant losses during this period amounting to an estimated £500,000, a Joss which is considered by the director to be the root cause of the Company issues.
Administrators' statement of proposals (2021-06-21) · Companies House register