5,000 jobs in the steel industry at risk, at Liberty Steel

[arista]

[Some 5,000 jobs in the steel industry are
in the balance after Greensill Capital,
one of the UK's largest speciality finance companies,
went into administration.]


[Greensill, whose advisers include the
former prime minister David Cameron,
is a major provider of finance to
Liberty Steel - the UK's third largest steel company.
Liberty, which is part of the GFG Alliance
controlled by the so-called
"Saviour of Steel" Sanjeev Gupta,
employs 3,000 people directly at
11 sites including Rotherham and
Stocksbridge in south Yorkshire,
Newport in South Wales and Hartlepool.]


[Greensill Capital is a major provider
of finance to Liberty Steel,
the UK's third largest steel company.]


[The Sunday Times reported at
the weekend that Mr Gupta's empire
had stopped paying Greensill up
to £100m per day since last Monday - suggesting
that up to £500m was withheld last week alone.]

https://news.sky.com/story/collapse-of-finance-company-greensill-capital-leaves-thousands-of-steel-jobs-in-the-balance-12240180


Fears for 5,000 UK steel jobs as lender collapses

https://www.bbc.co.uk/news/business-56320416

[arista]

[Liberty Steel tycoon Sanjeev Gupta
has promised thousands of UK workers facing
uncertainty after the collapse of lender Greensill
that he will not close any of its plants.]

Most Advisers (SkyNewsHD Business Report 10AM)
say it is down to the UK Courts to Decide.

And No Government will now loan this Rich CEO
who bought an expensive new UK home
while getting previously UK funding for UK Steel.
He has other Steel Productions in India & Asia
are all doing well.

[Gupta said Greensill Bank had been
a 'breath of fresh air' to start with]


https://news.sky.com/story/liberty-steel-tycoon-sanjeev-gupta-tells-workers-no-plants-will-close-under-my-watch-12262419

[arista]

Stocksbridge Plant
to be sold by Liberty Steel.

Steel is now rising in Price.

BBCnewsHD Live

[UserSince2005]

hope this only targets the labour regions. The tory blue wall doesnt deserve this.

[arista]

They have now Updated
3 Steel Plants in the UK to close

[arista]

[Liberty Steel tycoon Sanjeev Gupta to sell
seven UK plants employing 1,500 in restructuring

Liberty Steel's largest UK plant, at Stocksbridge,
near Sheffield, is among those being put
up for sale by the businessman.]


https://news.sky.com/story/liberty-steel-selling-stocksbridge-site-in-restructuring-after-greensill-collapse-12315808