The Brisbane-based Renewable Mobile Group which operates a mobile device recycling and renewal business is actively seeking potential suitors for the company.

It appointed Terry Van der Velde and Matthew Hudson from SVPartners as administrators on August 5, confirmed a notice posted on ASIC recently.

The first meeting of the creditors of the company is scheduled to take place on Thursday, August 15.

A newspaper advertisement has now solicited ‘urgent expressions of interest’ by August 19 for those interested in buying the business.

The group says on its website that was based at the Brisbane Airport business park where it has direct access to freight carriers and forwarders.

The company was co-founded by Stephen Harrison and Andrew Gardiner. Harrison was one of the founders of the Cellnet group back in the early 1990s.

Harrison was CEO at Renewable Mobile Group until 2010 at which time he resigned to pursue overseas interests and spent time in UK and Singapore. He subsequently returned to the company with the aim to position it as a major end-to-end distributor of renewed devices with a sustainable and eco-friendly ethos across ANZ.

Gardiner meanwhile has a background in the telco industry managing various businesses within the repair sector since 2008. Along with Harrison, the duo identified an emerging global trend in consumer repair and a demand for recycling and re-marketing pre-owned devices in a market which hadn’t yet matured.

Dealers can sell a range of old smartphones from manufacturers including Apple, Samsung and Google to the group in exchange for credit to use on other products. Apart from mobile phones, they also accept tablets, smartwatches earpods and gaming consoles.

Now that the administrators have been appointed, the meeting with creditors scheduled for August 15 will also explore whether a committee of inspection should be appointed and also the composition of members on that proposed committee.