Renewcell's clarification about its bankruptcy

Renewcell has cleared up some confusion regarding its bankruptcy to CCFGroup.

1.  The Board of Directors decided to file for bankruptcy on 25 February  

2.  The filing has been accepted by the Stockholm District Court on 27 February and an administrator, Lars-Henrik Andersson, has been appointed 

3.  The administrator will make a decision on the future of Renewcell soon – for updates and the latest news please visit: https://www.renewcell.com/en/section/media/press-releases/

While the administrator for Renewcell is in the process of sorting through the details of bankruptcy, we want to clarify that there is viscose made with CIRCULOSE® available for sale in the market and additional tons of CIRCULOSE® pulp have been produced. There is a supply that will satisfy the projected needs of brands and suppliers for the next 18 months to 2 years through our fiber producers (Sanyou, Grace, Birla) and through partnerships with yarn spinners, weavers, knitters, and garment manufacturers in the CIRCULOSE® Supplier Network.   

In a recent statement, Lars-Henrik Andersson communicated that he sees good opportunities for acquisitions - and continued operation of the business.

"There has been a lot of interest in the past and I hope and expect it to remain after the bankruptcy," he says. He estimates that the entire bankruptcy procedure will take up to six months - but he hopes that any sale will be quicker. 

"The sale itself and the entire first part should be completed within a month. Then we have another process that is more focused on accounting and other things that may take another six months. 

The CIRCULOSE® branded name and the logomark (dots in the form of a circle)are registered trademarks with the International registration (Madrid Protocol), EU, USA, Turkey, China, India and many other countries through 2028 (and 2030 in some countries). We hope that you will continue the marketing of CIRCULOSE® to drive your message of circularity until we have finalized a plan.