Recycling Plastics Australia in administration despite plan to fill gap left by REDcycle
Administrators are now seeking urgent expressions of interest in the business from potential investors or buyers.
A major Australian plastics recycling business that previously received a $20 million federal government grant has fallen into voluntary administration.
South Australian-based Recycling Plastics Australia (RPA) appointed Tim Mableson and Ned Swifte from KPMG as voluntary administrators on Monday, and the first meeting of the company’s creditors is scheduled for next week, according to a notice published by the Australian Securities and Investments Commission (ASIC).
Recycling Plastics Australia was founded in 2017 and has grown to be one of the country’s largest plastics recycling firms.
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