Metals recycling firm Unimetals Recycling (UK) Ltd, one of the largest metal processing businesses in the UK, has filed a petition for compulsory liquidation. This decisive action places approximately 650 jobs at risk across its nationwide operations. The company, which operates 27 sites across the UK, is expected to begin winding down as soon as Tuesday.
The liquidation follows unsuccessful attempts to find a buyer and secure new financing. Unimetals had faced escalating liquidity challenges throughout 2025, which were compounded by a high supply of excess scrap and steel earlier this year, denting prices.
Headquartered in Stratford-upon-Avon, Unimetals was founded in 2023. The group made headlines in October 2024 when it completed the £195 million acquisition of all 28 UK sites from the Australian metals company Sims. These assets included three port facilities and four metal shredders. The firm’s UK locations include a site in Harrimans Lane, Dunkirk (Nottingham), as well as facilities in Bristol, Manchester, Newport, and Plymouth.
In an effort to secure the necessary funding, Unimetals filed a sequence of three Notices of Intention to Appoint Administrators (NOI). This included an accelerated mergers and acquisitions (M&A) process, supported by advisers like Alvarez & Marsal, to identify potential investors or buyers.
A company spokesperson confirmed that they had “worked tirelessly to explore every possible option”, but “despite substantial interest and attempts at completing a deal, no transaction was concluded”. The spokesperson acknowledged how “distressing this news will be for everyone connected”, praising employees who worked diligently since the Sims acquisition to try and turn the business around.
The company’s immediate priority is to work closely with all stakeholders—including employees, suppliers, customers, and regulators—to ensure the liquidation process is managed safely, responsibly, and transparently. The group is currently “working urgently to agree on a clear plan and timeline for what happens next”.
