Preston headquartered Recycling Lives has been bought out by a Singapore-based firm after falling into administration.
The metal and waste part of the business has been sold while Recycling Lives Services continues.
A spokesperson for the company said: “We can confirm that the operations of Recycling Lives’ Services businesses, Recycling Lives (Environmental Services) Limited and Recycling Lives Compliance Services Limited, are now operating independently of Recycling Lives Group.
“Recycling Lives Services continues to provide all the services it has previously offered with the same commitment to delivering authentic social value in all our operations.
“There is also no impact on the Recycling Lives Charity, the Prison Academy program will continue through Recycling Lives Services and its partnership with the charity.”
Reasons for the sale include the impact the major fire at the recycling plant at Red Scar had in March last year.
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On Sunday 12 March last year a huge waste fire took place at the site and saw dozens of firefighters called from across the county to contain it. It sent a large toxic smoke plume billowing across much of Grimsargh and was one of a number of fires at the Preston Road site in recent years. The firm faced an investigation by the Environment Agency into whether it had complied with environmental permits on the site.
Recycling Lives also listed ‘macro economic conditions’ as the reason for its administration – such as the price of metal falling – and sale to Global Ardour, reported LetsRecycle.
More than 300 jobs have been safeguarded by the new owners but the Lancashire Post reported 20 people at the city’s depot had lost their jobs.
Recycling Lives dates back to 1977 and former chief executive of the firm, Alasdair Jackson, received an OBE in the New Year’s Honours in December for services to the rehabilitation of offenders.
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Clarification: A previous version of this story said that Recycling Lives was rebranding. We are happy to clarify that Recycling Lives Services is continuing.