Florida-based electronics recycler files for bankruptcy protection

TAMPA (Scrap Monster): Tampa, Florida-based electronic recycling and IT Asset management major-Creative Recycling Systems (CRS) has filed for bankruptcy protection. According to newspaper reports, Robert Swett, the receiver has identified three potential buyers for the company assets.

The three companies that have shown interest in buying the assets of CRS are New Hampshire-based Colt Refinery & Recycling, Kuusakosi Recycling and the Lakeland, Florida-based CIMMA Recycling. Also, three financial groups have expressed interest to serve as financial investors.

The company’s Louisville facilities, along with nine others across the United States, are expected to be closed. Meanwhile, the company is in all efforts to dismantle nearly 30 million pounds of Cathode Ray Tube (CRT) waste in their various facilities. It hopes to ship majority of them to other facilities in the US and export the remaining to Asian countries including India.

CSR had been in the business for nearly 20 years now. Earlier, the company had provided technology-recycling services to the state of Kentucky. CRS was an industry-leading provider of e-waste recycling solutions for organizations of all sizes.