The third NOI provides another statutory moratorium for a further 10 business days, preventing creditor actions whilst the deal is completed.
A spokesperson for Unimetals commented: “The formal process Unimetals has been running to secure new investment has attracted a high level of interest from parties who recognise the strength of the business and its future potential.
“Unimetals has filed a further notice of intention to appoint administrators to give the business additional time to reach a binding deal with potential financiers that secures investment and protects the long-term interests of employees, creditors, customers and suppliers.”
Unimetals, which is headquartered in Stratford-upon-Avon, filed the first two NOIs last month after uncertainty over the company’s £195 million deal to acquire Sims Metals UK, which was announced in August 2024.
The company continues to operate.
Unimetals £195 million deal to buy Sims Metals UK
Unimetals agreed last year to buy all 28 of Sims Metal Management’s UK sites – including four metal shredders and three port facilities – for £195 million.
The deal was expected to create one of the UK’s largest independent scrap metal groups.
The transaction’s uncertainty prompted Sims to take a £17 million loss allowance, according to its annual report published in September 2025.
In response to the development, Sims confirmed that it has “had no involvement in the operations of the business” since the sale of its UK operations to Unimetals in October 2024.
In October 2025, the company confirmed that it was exploring refinancing options.
A spokeperson said at the time: “The company is now focused on a formal process and in exploring options with stakeholders as part of its wider refinancing efforts.
“The company’s goal is to secure investment to ensure the continued stability of operations and protect the long-term interests of employees, creditors, customers, and suppliers.”
Unimetals Recycling employs around 650 staff across 27 sites in the UK, including facilities in Bristol, Peterborough, Bodmin, Hartlepool, Alfreton, Derby, Exeter, Plymouth, Manchester, Newport, Aldershot, Daventry, Nottingham and Barnsley.
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