Renewcell board initiates strategic review - sportstextiles: Lea SportsTextiles

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Renewcell board initiates strategic review

21/11/2023
Following several weeks of transition in the wake of lower-than-expected sales volumes of its Circulose ingredient brand, Swedish manufacturer Renewcell has begun the process of exploring extra funding sources.

Supplied in sheets, Circulose dissolving cellulose pulp is produced from 100% recycled textile waste.

The company’s board of directors initiated the strategic review with immediate effect on November 20, with no set timeframe for completion. In a statement, Renewcell said it similarly expects this month’s sales to be lower than previously announced, “in line with October sales volumes”. Although discussions are ongoing with several potential customers, “it is uncertain when [further orders] will materialise”, it explained.

Related stories:

Multiple bids for Renewcell 02/04/2024
Circulose Supplier Network adds 35 more members 23/02/2024
Renewcell announces plans to cut workforce by 25% 10/01/2024
Isbjörn plots expansion in Austria and Germany 24/11/2023
Encouragement for Renewcell at the end of October challenges 03/11/2023
Renewcell chief executive departs 18/10/2023
Renewcell ‘unlikely’ to break even this year 13/10/2023
Circulose Supplier Network up nearly 150% in three months 06/10/2023
Alliance of Chemical Textile Recycling takes shape 29/09/2023
Spinnova creates new, bio-based fibre from Circulose 13/09/2023

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