Multiple bidders have put in offers to buy the business and assets of bankrupt Swedish textile recycler Renewcell, the company’s bankruptcy trustee said Thursday.

The process has been closely watched by many in the industry, keen to see a business that represented one of fashion’s most advanced prospects to meet increasing demand for circular fibres revived.

The nature of the bids and the names of the bidders were not disclosed. A final closing is expected mid-April following a review process.

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