Multiple bids for Renewcell
02/04/2024
The Swedish company said: “With regards to the deadline of March 28 for receiving purchase offers, the Renewcell Bankruptcy Trustee confirms that multiple bids have been submitted for the business and assets of the estate.
“These offers will undergo a thorough review process, with a final closing expected in the middle of April.”
Renewcell developed a patented process that enables the recycling of cellulosic textile waste, such as worn-out cotton clothes and production scraps, transforming it into a new material called Circulose.
Its chief commercial officer, Tricia Carey, commented on LinkedIn: “Appreciate all the support from the Renewcell team, Canopy, Fashion for Good, Accelerating Circularity, Circulose Supplier Network partners and brands over the past months. We know circular solutions can only scale when working together.”
Share this story:
