The company has filed for voluntary liquidation and about 70 employees are affected globally, Eco-Business understands. Archwey launched a global head office in Singapore last July, declaring it would “rid the world of virgin plastic”.Archwey, an engineering group that makes alternatives to single-use plastic products and which just launched global headquarters in Singapore with much fanfare a year ago, has entered into voluntary liquidation.
The company has closed in Singapore and has wound down operations in the Netherlands, where it was founded in 2015. Satellite operations in China, Australia, Vietnam, United States, United Kingdom and Spain have closed too, sources told Eco-Business.
Around 70 employees are affected globally, Eco-Business understands.
Archwey launched its international headquarters in Singapore in July last year, pledging to “rid the world of virgin plastic” by making products made from plastic waste.
Its products are made from Bluewave, the brand name for a material marketed as made from ocean-bound plastic, marine plastic and post-consumer plastic sourced from the world’s most polluted rivers.
The firm’s customers have included jeans company Levi’s, sportswear apparel brand Under Armour and British luxury retailer Selfridges, according to the firm’s marketing materials. The company has struck partnerships with the likes of Singaporean renewables firm EDPR Sunseap to build floating solar panels using recycled plastic.
A recording obtained by Eco-Business indicates that the company’s chief executive, Sjoerd Fauser, had informed staff of the closure at Archwey’s Singapore office on 18 August. The firm closes with a number of staff owed salary and suppliers unpaid, according to documents seen by Eco-Business.
In a social media post on Monday that has since been deleted, a former employee complained that staff will not be paid for the month of August. Another former employee told Eco-Business that salaries have repeatedly been delayed and expenses and contributions to Singapore’s mandatory saving plan, CPF, unpaid.
Some Singapore staff are pursuing salary claims through the Tripartite Alliance for Dispute Management, a service for resolving salary-related claims.
Read more at https://www.eco-business.com/news/plastic-recycling-firm-archwey-winds-down-staff-from-singapore-headquarters-let-go-and-pursuing-salary-claims/
Source: www.eco-business.com
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