BCR Global Textiles on the verge of entering administration

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.


Share this article



Latest Businesses for Sale

Pharmacy
Cambridgeshire, UK Wide

Long established community pharmacy. First time on the market in 30 years. Now occupying exemplary new purpose built accommodation. Standard hours. Offers invited.

Asking Price: Offers Invited
Turnover: £885,000

LEASEHOLD


Creative Consultancy & Interior Design Solutions
UK Wide

Works closely with clients to produce interior design solutions for educational institutions, which could be marketed to more sectors.Additionally offers an array of creative media, including videos,presentations, websites, branding and full direct m...

Asking Price: Offers Invited
Turnover: £873,000

RELOCATABLE


Health Centre Pharmacy
Devon, UK Wide

Unopposed health centre pharmacy. Semi-rural location. In receipt of Pharmacy Access Scheme payments. Offers invited.

Asking Price: Offers Invited
Turnover: £845,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Jan
 

Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...

 
23
 
Jan
 

MBO at Bristol-based media training firm | MBO/MBI

Mentor Media Training has been acquired by lead consultant D...

 
22
 
Jan
 

Chelmsford warehouse management firm bought by software provider | BUSINESS SALE

Chelmsford-based warehouse management solutions provider Min...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources