Founded in February 2003 (see letsrecycle.com story), Transform was gearing up to collect surplus appliances from both businesses and private individuals in the run-up to the implementation of the Waste Electrical and Electronic Equipment Directive in the UK in 2004.
Endeva, the consumer electronics repair and refurbishment arm of TV rentals business Boxclever, had been one of the three founding organisations of Transform, along with European Metals Recycling (EMR) and Biffa Waste Services.
But following financial difficulties, it was confirmed last night that Endeva's German parent company WestLB had put Endeva into administrative receivership. The business will continue to operate under protection from its creditors while receivers PricewaterhouseCoopers carry out restructuring and decide on the best way to progress.
Commenting on the situation, Tony Lomas of PricewaterhouseCoopers, said: “Our priority is to continue to provide the highest standard of service to Boxclever, working with management, staff and suppliers, whilst we review Endeva’s business plan and decide the best way forward.”
He added: “Our longer term objective is to restructure the business in order to improve the service to Boxclever and our options might include some form of partnering with a financially stronger third party.”
It is not yet known how the problems at Endeva will affect Transform but Endeva was to have played a key role in the collection of equipment.
Biffa Waste Services have said it is too early to say what will happen as a result, while a spokeswoman for EMR told letsrecycle.com: “We are still assessing the situation. We do hope that in the future Endeva will still be involved in some way.”
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