UK draws up plans to run Liberty Steel if Gupta’s

2022-04-05
  • Detail
UK draws up plans to run Liberty Steel if Gupta’s GFG collapses - Today News Post Today News || UK News

The UK government has drawn up a contingency plan to run Liberty Steel using public money while searching for a buyer, as ministers brace for the potential collapse of Britain’s third-biggest steel company.

Downing Street is increasingly concerned about Liberty’s current owner GFG AllianceThe northwest, Scarborough and Thorncliffe Park, prioritizing them ove, run by industrialist Sanjeev Gupta, which is scrambling to find new financing after the failure of its main lender, Greensill Capital.

One option under consideration for Liberty, according to government officials, is to use public funds to maintain production similar to how the Treasury supported British Steel in 2019 at a cost to taxpayers of nearly £600m.

The sensitivity over Liberty, which employs 5,000 workersThe most in demand professionals of this pandemic, is heightened by the fact that many of its 12 UK sites are in marginal constituencies including Hartlepool, where there will be a high-profile by-election in early MayThe province at this time..

Copyright © 2011 JIN SHI