Recycling Lives, a Preston-based commercial recycler and social welfare charity, has completed a pre-pack sale of its two divisions, including End-of-Life Vehicle (ELV) recycling. The sale follows the recent administration of these divisions, marking a crucial moment in the company’s history. Despite the challenges, the Recycling Lives Charity and its Prison Academy program will remain operational through Recycling Lives Services, in collaboration with the charity, unaffected by the recent sale.
The decision to sell stemmed from several pressures. A devastating fire at their Preston facility in April 2022 dealt a major blow, followed by the looming shadow of declining metal prices. While these divisions may be changing hands, the future appears brighter than it might seem. The sale is viewed as a strategic move, paving the way for “significant opportunities ahead,” according to a company spokesperson.
While 350 jobs at these divisions are secured via the acquisition by an undisclosed buyer, the sale is still a significant moment. Before this, Recycling Lives encompassed a diverse range of operations, from vehicle processing and skip hire to WEEE compliance and environmental services. Now, a more streamlined version of Recycling Lives, dubbed Recycling Lives Services, will focus on brokered environmental solutions and compliance services while upholding its “authentic social value” mission.
Meanwhile, the heart of Recycling Lives – the charity and its Prison Academy – remain untouched. This program, instrumental in rehabilitating former prisoners and homeless individuals, will continue its impactful work thanks to Recycling Lives Services’ partnership with the charity. These pillars of social good stand apart from the commercial challenges, solidifying the company’s dedication to its core values.
While Recycling Lives undergoes a shift, its essence remains intact. The sale ensures the survival of hundreds of jobs and offers promise for future growth. Importantly, the company’s dedication to social good through the charity and Prison Academy endures, reminding us that Recycling Lives, even in this altered form, still lives up to its name.
A Recycling Lives spokesman said:
“The sale represents the best possible solution for both divisions of the business going forward and we remain “optimistic about the long-term opportunity.”
Sources: bnnbreaking.com lep.co.uk letsrecycle.com
