Nicholas O’Reilly from Moorfields Corporate Recovery issued a note to creditors last week (December 10) advising that he and Simon Thomas had been appointed joint liquidators for the family-run company on November 28.
Founded over 40 years ago, Ideal Waste Paper specialised in office and commercial paper recycling services in and around London before relocating to Swanley in Kent where in 2011 it opened a materials recycling facility (MRF) on London Road and expanded into the mixed materials market.
The 100,000 tonne-per-year capacity MRF near the M25 was officially opened by local MP Michael Fallon (see letrecycle.com story), creating 50 jobs.
At the time, Ideal Waste Paper’s founder and managing director Kenny Thew said that the facility would offer local authorities and major accounts ‘significant benefits for recycling, across the South’.
The company had held contracts to handle mixed paper and card from Kent county council as well as mixed recyclables from City of London, amongst others.
Winding up
Writing in the notice to creditors, Mr O’Reilly says: “I write to advise of my appointment as Joint Liquidator of the above company subsequent to a winding up order being made in the High Court of Justice on 28 November 2014 in respect to a winding up petition presented on 11 August 2014.”
He adds: “My duties and functions as liquidator are to realise the company’s assets, agree the claims of creditors and, if funds are available, to then make a distribution to the creditors.”
Entrepreneur
Mr Thew was named Entrepreneur of the Year at the 2011 Kent Excellence in Business Awards (KEiBA) and was credited for building what started out a small card collection operation in London into a multi-million pound business.
In April 2013, Ideal Waste Paper said it was ‘thrilled’ after the Environment Agency dropped a case against it and another recovered paper company after accusing them of exporting household waste to China marked as paper for recycling (see letrecycle.com story).
As of March 2013, the company had 37 employees and four directors – Mr Thew, Danella Scott, Simon Jeffrey Scott and Michaela Thew.
A meeting of creditors is due to take place at the Thistle Hotel on London Road in West Kingsdown, Kent, on January 7.
Mr Thew could not be reached for comment.
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