British Steel Scunthorpe now placed into Insolvency

[arista]

Potential buyers for the business
are likely to be scarce given the
difficult backdrop‎ confronting the sector.
The Scunthorpe site is a pivotal part
of the UK's steel production capability,
and its purchase from Tata Steel ‎by
the private investment firm
Greybull Capital almost exactly
three years ago was seen as a
landmark moment in signalling
investor confidence in the industry's
prospects.

https://news.sky.com/story/british-steel-seeks-new-75m-taxpayer-loan-to-avert-collapse-11719704


Will the Conservatives keep them going?

[The Slim Reaper]

Potential buyers for the business
are likely to be scarce given the
difficult backdrop‎ confronting the sector.
The Scunthorpe site is a pivotal part
of the UK's steel production capability,
and its purchase from Tata Steel ‎by
the private investment firm
Greybull Capital almost exactly
three years ago was seen as a
landmark moment in signalling
investor confidence in the industry's
prospects.

https://news.sky.com/story/british-steel-seeks-new-75m-taxpayer-loan-to-avert-collapse-11719704


Will the Conservatives keep them going?

Socialism to the rescue again.

[Livia]

British Steel has not been allocated permits by the EU under its Carbon Emissions Trading Scheme (ETS). British steel have been refused the permits, despite the fact we're still paying in to the EU. So if anyone's to blame...

[arista]

Socialism to the rescue again.


That's assuming
the Conservatives will keep them alive?

[arista]

British Steel has not been allocated permits by the EU under its Carbon Emissions Trading Scheme (ETS). British steel have been refused the permits, despite the fact we're still paying in to the EU. So if anyone's to blame...


Yes a mess
sadly

[arista]

From a Early
Radio 4 report

Staff have noticed new yellow stickers going onto
Steel rod stocks and Other Steel
not a good sign....................

They are High Level talks
in Parliament for 2 weeks.

[arista]

The Plant is due to find out
today if they get any more loans?
Some staff are worried they will not get paid
if it goes under......................


[Thousands of jobs at risk with British Steel on brink of collapse
The UK's second-biggest steel producer will call in administrators on Wednesday without a £30m government loan.]

https://news.sky.com/story/thousands-of-jobs-at-risk-with-british-steel-on-brink-of-collapse-11725090

[bots]

the government provided a loan to cover its carbon payments due to the EU. Tis is additional funding they require because their business simply isn't doing well. It's not British Steel from the past .... its a recently rebranded company taken the name .... it's harsh, but if they are not economically viable ... why should they get government support

[arista]

Some Good News for Workers
The Company has the funds to pay this months wages.

The Government
still has to say if they will lend £30million

[arista]

Sad News


Slim no help from anyone


[British Steel insolvency places 25,000 jobs at risk
A union calls for a focus on saving jobs as British Steel is placed into insolvency after failing to secure more taxpayer cash.]
https://news.sky.com/story/british-steel-insolvency-plan-places-thousands-of-jobs-at-risk-11726024

[smudgie]

It really is a shame.
But British Steel ceased to actually exist many years ago.

[arista]

Socialism to the rescue again.


No , no help

[bots]

It really is a shame.
But British Steel ceased to actually exist many years ago.

yeah it's not the same company. This is the company that an indian firm already sold for a song because it was unviable. The original British Steel went out of business because it wasn't viable and nothing has changed.

[smudgie]

yeah it's not the same company. This is the company that an indian firm already sold for a song because it was unviable. The original British Steel went out of business because it wasn't viable and nothing has changed.

Tata sold it for a quid.
That is very telling.

[arista]

If we left the EU on the 29th
The Government could save
this Steel Plant.

But sadly under current EU laws
it s illegal to help them........................