01 Mar 2023 --- A court has ordered REDcycle’s parent company to be wound up while Coles and Woolworths are officially taking over the company’s stockpiled soft plastics after its failed recycling scheme. REDcycle was declared insolvent after failing to pay storage fees for the 12,000 metric tons of soft plastics it secretly stockpiled in New South Wales (NSW), Victoria and South Australia. Coles and Woolworths had been allotted interim control of REDcycle’s recycling scheme while it sorted out the stockpiled plastics.
