Reynolds Recycling to reopen 35 redemption centersUPDATED 10:08 PM HST Jun 26, 2014Video Transcript
It takes green to support going green... The state knows this and Hawaii's largest recycling company is trying to deal with that hard truth... Reynolds Recycling shut down it's 35 redemption centers across Hawaii today because of financial issues. But tomorrow -- the company WILL get back to business... KITV4's Brenton Awa tells us why. 21 104 Like the saying goes.... If can... can. If no can... we'll -- that's obviously not the case here at Reynold's Recycling Warehouse... "Cans" are all over the place -- but the company says what's missing is money... ...a key to staying in business -- that has states largest recycler asking itself "how can?" 4526 - 4539 - Bruce Iverson "WE HAVE SIGNIFICANT MONEYS THAT WE'RE WAITING FOR REPAYMENT AND SOME OF THOSE ARE WELL IN EXCESS OF 30-DAYS THAT THEY SHOULD'VE BEEN REFUNDED BY." Up until today -- Reynolds Recycling said it was owed more than one-million dollars by the state. The company pays consumers for turning in their HI-5 recyclables at these redemption centers but it had to shut down those operations for the very first time. 4602 - Bruce Iverson "IT'S A LOT OF MONEY TO BE FRONTING SO IT'S TOUGH." By law -- the state has 30- days to make those re- imbursement payments... Officials say the state usually pays its Reynolds Recycling invoices within 10-days -- but this most recent check took a little longer to go out. 254 - Gary Gil "THIS PAYMENT TO REYNOLDS WAS NOT LATE, IT WAS A WEEK LATER THAN USUAL FOR SOME OF WHAT THEY ASKED US FOR." The state says it cut a check today for just over 700- thousand dollars to the recycling company... 450-thousand of that goes towards the money Reynolds fronts to reimburse customers. The other 250-thousand goes to operating costs. The state praised the company for its long history of having a positive partnership ... but was caught off guard by the closure. 700 - Gary Gil "IT'S SURPRISING TO US THAT THEIR FINANCES ARE SO CLOSE TO THE LINE THAT THEY CAN'T WAIT FIVE DAYS MORE THAN USUAL FOR A REIMBURSEMENT." Again -- Reynold's Recycling will re-open it's 35 redemption centers tomorrow. However -- the company says it's still owed money -- the state confirmed that amount at 500-thousand-dollars. But the state says it just got that invoice two days ago.