British Steel collapses putting 25,000 jobs at risk

British Steel is to go into official receivership after failing to secure £30 million in emergency funding, sources say.

This means at least 4,500 British workers are at risk of being made redundant, mainly in Scunthorpe, and a further 20,000 in the UK’s second biggest steel maker’s supply chain.

The request for emergency financial support from the government is understood to have been reduced from £75 million to £30 million.

British Steel borrowed £100 million from...
source: Metro

2019-05-22 12:23
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