Bankruptcy of second steel producer puts 25,000 jobs at risk – Telam

British Steel, the UK's second-largest steel producer, was forced to declare bankruptcy by the United Kingdom's Supreme Court, threatening to create 5,000 direct jobs and another 20,000 indirect ones, after the company's decision was made. failed negotiations with the government. additional help to the company, struggling for Brexit.

"The liquidation company continues to negotiate and provide to its customers while evaluating the alternatives," said the bankruptcy administrator of British Steel, appointed liquidator of the steelmaker, adding that the plant's workers had been paid and would continue to be used.

British Steel was purchased in 2016 by Greybull Capital from the Indian group Tata Steel at the symbolic price of £ 1.

Its bankruptcy comes after the company did not proceed to a new injection of public funds, about 30 million euros, after the UK government granted it an emergency credit of 136 million euros. against the cost of the EU's environmental requirements.