bio-bean Limited - administration

bio-bean Limited, the worlds largest recycler of coffee grounds, entered administration on 3 April. Based in Cambridge, the company takes spent coffee grounds and transforms them into sustainable products, in particular coffee logs for home burners. Administrator Paul Ellison of KRE Corporate Recovery said the administration was precipitated by a fire of the drying equipment which rendered trading impossible. Buyers are being sought for the production line, IP and stocks of finished goods. CRS are acting as solicitors, and Hilco have been retained as agents. Fe Loan Management Limited, Innovate UK Loans Limited and Manco Energy Limited each has a registered charge against the company.