By Paul Ploumis (ScrapMonster Author)

December 09, 2015 07:49:29 AM

ALBANY (Scrap Monster): Nationwide appliance recycler Jaco International reportedly owes millions of dollars to people across the country. The company had announced abrupt closure of its facilities on November 23rd.

As per newspaper reports, the company owes around $4 million in replacement rebates to people around the country. More than 100,000 people are feared to be affected. Out of the $4 million, around $2.5 million is pending for issue of cheques to individual customers who recycled their old appliances by replacing them with new ones. The balance $1.5 million accounts for cheques that are already issued, but are either not encashed till date or are bounced. Reports indicate that Jaco has closed the bank account that was used to provide consumers with rebate checks for their old appliances.

According to a receivership petition filed by the company in King County Superior Court, the company had stated that it doesn’t have adequate resources to fund its operation. A communication from the company on Nov 23rd had confirmed that it has ceased operating with immediate effect.

Started over twenty years ago in Snohomish County, north of Seattle, Washington, JACO Environmental had grown to become one of the largest recyclers of 
household appliances in the United States. Jaco works with public utilities in 28 states to handle their household-appliance recycling programs, picking up old fridges and freezers, mailing customers rebate checks.