Gupta steel firms told to retain cash as debt deal sought
over 4 years in The guardian
Group employing 5,000 in UK is under pressure after key lender collapsed into administration
Sanjeev Gupta has told the bosses of companies in his steel and industrial empire to keep cash in the business and “reduce their call on group resources”, as he tries to reach an agreement over debts.
Gupta’s GFG Alliance, which owns the UK’s third largest steel manufacturer and employs a global workforce of 35,000, was put under severe pressure this week after its key lender, Greensill Capital, collapsed into administration on Monday. Continue reading...
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