Unimetals, a prominent metals recycling firm, has filed for compulsory liquidation, jeopardising approximately 650 jobs. The company is set to commence the winding-down process as early as Tuesday, following unsuccessful attempts to find a buyer.

In recent weeks, Unimetals had issued several notices indicating its intention to appoint administrators. Advisers from Alvarez & Marsal were engaged in discussions with potential buyers, but these negotiations did not result in a successful sale.

The liquidation marks a significant development for the firm, which has been a key player in the metals recycling industry. The situation has raised concerns among employees and stakeholders about the future of the company and the impact on the local economy.

As the company prepares to close its doors, further updates are anticipated regarding the liquidation process and its implications for the workforce.

This is a developing story, and more information will be provided as it becomes available.