[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-...lance-12240180


Fears for 5,000 UK steel jobs as lender collapses

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