The company announced at the end of June that it was entering talks with potential investors to secure funds, which could potentially lead to the company being sold (see letsrecycle.com story).
And, a further statement published later the same day confirmed that “the Board of CKS Group PLC (the “Company”) has requested the suspension of the shares pending financial clarification of the Company”.
It added: “Discussions with various investor groups have concluded without significant investment being made available to the Company.”
When letsrecycle.com contacted the Bracknell-based firm today, they confirmed that administrators had been called in to the company, which opened a new facility to recycle waste electrical and electronic equipment (WEEE) in Cinderford, Gloucestershire just over a year ago, as part of an £8 million investment programme (see letsrecycle.com story).
However, it is believed that CKS has encountered financial difficulties as a result of not being able to process sufficient levels of WEEE at the new facility, which has a 45,000 tonne capacity.
The plant focuses on business-to-business customers, and corporate office equipment – principally IT and telecoms equipment, and doesn't offer processing of cathode ray tubes, found in televisions and computer monitors.
As well as the Cinderford plant, the company has a further approved authorised treatment facility for WEEE in Rushden, Northamptonshire.
Last year it mooted a potential move into developing the infrastructure to recycle plastics from the WEEE it processes, but no progress has been reported on this development.
CKS were unable to make any further comment on the situation.
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