British Steel to be put into administration (Updated)

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British Steel to be put into administration...
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British Steel, the country’s second largest steel producer, will be placed into administration as early as Wednesday, Sky News reported, jeopardising some 25,000 jobs.

Administrators from EY are in court this morning to finalise an insolvency process, the broadcaster said, after a failure to secure a 30 million pound ($38 million) loan from the government.

Owned by investment firm Greybull Capital, British Steel employs around 5,000 people, mostly in Scunthorpe, in the north of England, while 20,000 more depend on its supply chain....


This article was automatically added to our system 22-5-2019

British Steel to be put into administration (Updated)


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Article Tags: british, steel, administration, updated,