According to several news reports, Sustainable Aggregates Ltd., a U.K.-based company that was created with the goal of recycling construction and demolition debris into a re-usable material, has entered administration.
Administration is a procedure that functions as a rescue mechanism for insolvent companies, allowing them to carry on running their businesses. A company in administration is operated by the administrator on behalf of the creditors while options are sought short of liquidation.
According to news reports, Sustainable Aggregated, founded in 2007, has recycling sites in Bristol, Plymouth and Taunton, U.K.
Under the company’s initial business plan, it recycles C&D debris into a cementitious binder produced by SMR UK Ltd., a sister company of Sustainable Aggregates.