Red Rhino, the UK based manufacturer of compact crushing equipment, is back from the brink of insolvency having been bought out of administration by Bryan Eccles. Eccles, a director and long-time investor in the pioneering company, rescued Red Rhino after what he describes as “poor management” led the company to the brink of collapse.
Eccles reports that the company’s order book has remained strong throughout the recent turmoil and, following a further personal investment by Eccles himself, the majority of creditors have been satisfied.
“It has been a difficult time for everyone at Red Rhino but thanks to the hard work of the Red Rhino team and the support shown by our customers and creditors, we are looking ahead with a renewed positivity,” Eccles concludes. “We are also actively seeking companies to partner with to drive this business forward.”
Following Eccles’ rescue, the company will operate as Recycling Products Ltd trading as Red Rhino Crushers, without former managing director Tim Mitchell.
