Recycling Technologies Group – administration

Recycling Technologies Group, a Swindon-based recycling company, entered administration on 26 September. The company’s patented technology converts plastics into a form of oil, allowing it to be remoulded into new products. The company was unsuccessful in its recent attempt to acquire additional financing to complete its development phase, and was unable to meet its obligations as they came due. Most of the company’s 73 employees have been made redundant, while some staff have been retained to assist the Joint Administrators with the closing of the company’s sites in Swindon and Scotland. Nick Holloway and Will Wright of Interpath Advisory were appointed as Joint Administrators.