Pink Skips closes as talks fail

The Ketley-based firm, renowned for its bright pink lorries, fell into administration in mid-February.

Nearly 40 jobs were lost at the time, leaving about 23 workers to run the business in the hope that a buyer could be found.

But talks with potential buyers have collapsed, leading to Wellings Limited, which trades as Pink Skips, closing entirely.

Joint administrative receiver Paul Addison, of Grant Thornton LLP, said: "Since our appointment, we have been in discussions with several interested parties and very much hoped to sell the business as a going concern.

"Unfortunately all such interest has now been withdrawn and sadly we are now in the process of winding down Wellings Limited's business operations.

"All except for three employees assisting with the auction of assets have now been made redundant and we are in discussions with the landlord with regard to the future of the company's former trading premises."

An online sale of Pink Skips' assets begins on Tuesday, when much of the available equipment will also be on display at the company's Rock Road headquarters. Refuse collection lorries, loader trucks and tractors will be among the vehicles on sale.

The most recent available full set of accounts, for 2010, show that Pink turns over approximately £5 million a year, from which it achieved profit of approximately £55,000.

Pink Skips was set up more than 40 years ago, and at its peak was among the largest privately owned recycling companies in Britain.