Rotherham-based waste recycling and renewable energy company Sterecycle has closed its plant in Templeborough.
Administrators from accountants Mazars were called in by the firm last month, following a downturn in trading results, a global fall in prices for recycled materials and delays in Sterecycle’s bid to raise funds by floating on the Canadian Stock Exchange.
Joint administrator Guy Hollander said the decision to close the plant, which once employed about 50 people, was taken after talks with a potential buyer fell through and the remaining 16 staff had been made redundant.
He said talks had reached an advanced stage with a potential purchaser, but, once they fell through, the administrators decided it would not be cost effective to keep operations running.
The site has now been handed back to the landlord, who also gets possession of Sterecycle’s hi-tech processing plant.
Mr Hollander said: “The landlord will be considering his options – whether he can sell the site or assign it to another user.
“He may have more of an opportunity to do that than we had because he can take his time.
“We would have been having to pay rental to the landlord and concluded it would not have been cost effective to do that.”
The Sheffield Road plant processed waste from Barnsley, Doncaster and Rotherham councils, who cancelled their contract when Sterecycle collapsed.