Unimetals Recycling has filed a notice of intention to appoint administrators after failing to secure the final funding needed to complete its £195 million acquisition of Sims Metals’ UK operations.

The Stratford-upon-Avon-based company had been close to finalising a refinancing deal to meet deferred payments owed to Sims, but was forced to act after a key investor withdrew from the process.
The planned acquisition, announced in August 2024, covered all 28 Sims Metals UK sites, including four shredders and three port facilities, and was expected to create one of the UK’s largest independent metal recycling groups.
Sims Limited has reported a £17 million loss allowance related to the stalled transaction and retains a £35 million receivable from Unimetals, partially secured by a debenture. The company confirmed it has had no operational involvement in the UK business since the sale was completed in October 2024.
Unimetals is now exploring refinancing and restructuring options aimed at maintaining operational stability and protecting its workforce and suppliers.
The company employs around 650 staff across 27 sites nationwide, including facilities in Bristol, Peterborough, Hartlepool, Derby, Plymouth, and Manchester.


