Renewcell news and archive

Circulose taps former H&M CEO as chairman

Material manufacturer Circulose has announced the appointment of Helena Helmersson as the new chairman of the board, a position she will take up following her tenure as chief executive officer of Swedish retail giant H&M Group. Helmersson will be joined by Jonatan Janmark, who has been named chief executive officer at Circulose – formerly...

Business

Altor rescues textile recycling company Renewcell

Swedish investment firm Altor has acquired the remaining assets of Swedish textile-to-textile recycling company Renewcell, which filed for bankruptcy in February. In a statement, the new owners said they plan to ensure the company’s pioneering cotton recycling technology “continues to thrive on a global scale” by rebranding as Renewcell’s...

Business

Renewcell sells Kristinehamm plant to Biosorbe

As part of its ongoing bankruptcy proceedings, Renewcell has now announced the sale of its Kristinehamm plant to biomaterial company, Biosorbe. The news follows reports from earlier this year that bankrupt Renewcell had multiple bids for its assets, yet the who and what of these bids remained unclear at the time. It now appears, however, that at...

Bankrupt Renewcell receives multiple bids

Things aren’t over yet for Renewcell, as the Swedish textile recycling company is said to have received “multiple bids” for its business and assets. The bankruptcy trustee confirmed that several purchase offers had been submitted for the business and estate assets ahead of the deadline on March 28. All offers are said to be undergoing a thorough...

BusinessFeatured

H&M-backed textile recycler Renewcell files for bankruptcy

Swedish textile-to-textile recycling company Renewcell, behind the Circulose fibre and backed by fashion chain H&M, has filed for bankruptcy. In a statement, the textile innovator said it had filed for bankruptcy at the Stockholm District Court as it "has not been able to secure sufficient financing". At the end of 2023, the company reduced its...

Business

Renewcell to cut 25 percent of workforce as part of restructuring

Following a lacklustre sales period, Renewcell has said it will be pursuing an organisational restructuring of the company, with job losses expected across its workforce. The circular fibre manufacturer has begun negotiations with Swedish trade unions regarding the scheme, which could lead to the elimination of 25 percent of its workforce,...

Business

Renewcell ends 2023 on upbeat production note

Circular fibre producer Renewcell has reported a more upbeat December in terms of sales as it continues to struggle against lacking product demand. For the period December 1 to 31, 2023, the Swedish manufacturing firm said that it had produced around 818 metric tonnes of dissolving pulp, while 1,000 metric tonnes had been delivered to its...

BusinessFeatured

Renewcell secures SEK 100 million capital injection amid strategic review

Material innovator Renewcell has said that it has entered into loan agreements totalling 100 million Swedish krona as it continues down the path of a strategic review and looks to resolve short-term liquidity issues. One of the financial arrangements had been made with two of its major shareholders, H&M Fashion and Girincubator, which have...

Business

Renewcell reduces production as demand wanes

Swedish textile recycler Renewcell has said that it has reduced its production capacity in light of a lack of sales during the month of November. The company reported that over the period it had produced just 1,339 metric tonnes of its Circulose pulp material, while its total production output at its facility was 1,420 tonnes. “No metric tonnes...

Business

Renewcell sees drop in sales, calls on brands to partner

Swedish recycling company Renewcell reported some lacklustre financials for Q3 as its flow of product continues to underperform amid lower than expected demand. Net sales for the three months to September came in at 84.4 million krona, a short drop from the 84.8 million krona it reported in the quarter prior. While the company's operating profit...

Fashion

Inditex to acquire 2,000 tonnes of recycled cotton waste

Zara-owner Inditex is acquiring the first available 2,000 tonnes of fibre made from Circulose, produced by Swedish company Renewcell from recycled cotton textile waste. The retail group said it has signed an agreement with fibre producer Tanshang Sanyou, which carries out the industrial process of transforming the pulp into textile fibre, to...

Business

Spinnova and Renewcell partner on scaling circular fibre production

Two players in the circular textile field have come together in a bid to commercialise and scale the production of textile waste-based fibre to create consumer products. Sustainable textile material company Spinnova and Swedish textile recycling innovator Renewcell will work together on spinning such fibres into products via a new production...