Business news in brief: Biffa | Luke Heron | Co–op | Sportingbet

One of Britain’s largest household waste collectors is about to be seized by its lenders because of crippling debts.

Biffa, which has household collection contracts across the UK, is reported to be handing control of the business to creditors led by HSBC after struggling to repay debts.

It is understood to have been saddled with some £1 billion of loans since 2008, when it was taken private by three investment firms: Montagu, Global Infrastructure Partners and the private equity arm of Halifax Bank of Scotland. Its profits have been wiped out by interest payments on the debt.

Heron’s latest flight makes apps top five

Scottish-based entrepreneur Luke Heron has seen his latest digital venture soar into the top five of a chart for the most popular “apps”.

ByPost, which allows personalised postcards to be sent from a mobile phone, launched last summer and is already being used every minute of the day on average.

Heron, whose other ventures include ethical retailer Ascension, said an advertising campaign using in-flight magazines had helped the business take off. He plans to launch in the US and Australia in the coming months.

Co–op warms to ‘alternative’ status

The Co-operative Banking Group claims it has benefited from a “flight to trust” as it hails a 21 per cent growth in business accounts.

According to data released today, the Co-op said business bank accounts were up by more than a fifth during the first half of 2012 compared to the same period last year.

Sportingbet plays a little hard to get

Online gambling firm Sportingbet has snubbed a £350 million takeover proposal from Britain’s biggest bookmaker, according to reports.

Sportingbet is said to have rejected a 52.5p-per-share bid from William Hill, which had teamed up with European gaming company GVC for the deal.