More than 650 jobs at risk as scrap metal company, Unimetals Recycling, files for liquidation
Recycling company Unimetals, which operates 27 sites across the UK, has gone into liquidation after efforts to find a buyer for the business failed, leaving more than 650 workers facing the prospect of redundancy.
The company’s head office is in Stratford-upon-Avon, with sites across the country, including London, Halesowen, Staffordshire, Greater Manchester, and Devon.
Winding-up order made as Official Receiver steps in
A winding-up order has been made against Unimetals Recycling (UK) Ltd on 25 November 2025, and the Official Receiver has been appointed liquidator by the court.
In a Gov.uk notice titled “Unimetals Recycling (UK) Ltd – winding up order made”, authorities confirmed that “The Official Receiver will wind-down the company in accordance with her statutory duties. The Official Receiver will also inquire into the cause of the company’s failure and conduct of the current and former directors.”
The move follows a winding-up petition filed by the owners of Unimetals Recycling (UK) Ltd on Monday, after a sales process failed to secure a buyer for the scrap metals group.
The scrap metals industry generates billions of pounds of revenue each year by recycling metals such as steel, aluminium and copper into new products. The switch to electric arc furnaces that melt down recycled steel has given added hope for the sector’s longer-term prospects.
£195m Sims deal unravels as market conditions bite
Unimetals was founded in 2023 by metals traders Jamie Afnaim and Alec Sellem, according to UK company disclosures. On a social media profile, Sellem described the group’s aim to buy up metals recycling and processing businesses, with a particular focus on critical minerals and those needed for the transition away from fossil fuels.
The pair agreed in October 2024 to buy the UK sites from the Australian metals company Sims for £195m. The assets included four metal shredders and three port facilities among its 27 UK locations, with headquarters in Stratford-upon-Avon. However, they failed to turn the business around.
Unimetals struggled earlier this year as excess scrap and steel supply outpaced demand, denting prices. Sims allowed it to delay a final payment, but Unimetals was unable to raise the funds.
Under Sims’s ownership, the business had lost £22m in the year to June 2023, the last for which it has published accounts. In recent weeks, Unimetals filed three notices of intention to appoint administrators before the winding-up petition.
Read further background on the stalled Sims deal and earlier administration concerns in a previous article on ATF Professional
Workers face uncertainty as company plans next steps
A spokesperson for Unimetals said:
“We have worked tirelessly to explore every possible option to secure new financing for Unimetals Recycling, with the aim of meeting our financial obligations and safeguarding the future of the business.
This included an accelerated mergers and acquisitions process, supported by our advisers and undertaken in full collaboration with stakeholders, to identify potential buyers or investors.
Regretfully, despite substantial interest and attempts at completing a deal, no transaction was concluded.”
The spokesperson acknowledged that this would be a distressing period for staff. The group said it was “working urgently to agree on a clear plan and timeline for what happens next”.
Sources www.theguardian.com www.gov.uk
