UK government must save Liberty Steel soon to protect supply chain jobs, warns Labour
over 4 years in The guardian
Party says insolvency could threaten thousands of workers if owner Sanjeev Gupta fails to find new lender
The Labour party has called for the government to step in to save Liberty Steel from an insolvency that could threaten thousands of supply chain jobs if owner Sanjeev Gupta fails to find a new lender to prop up his metals empire.
Gupta is scrambling to refinance his companies, after the collapse of Greensill Capital, which lent him as much as $5bn (£3.6bn). The collapse has raised concerns over the future of companies under Gupta’s GFG umbrella, including about 3,000 Liberty Steel workers in the UK as well as about 35,000 workers across the world. Continue reading...
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