Lack of work at Rotherham and Motherwell sites highlights financial crisis at UK’s third-biggest steel producer
Liberty Steel has produced nothing at two of its key UK plants since July, in a sign of the deep financial difficulties for Britain’s third-biggest steelmaker as it looks for rescue funding.
The plants at Rotherham in South Yorkshire and Motherwell in Scotland have not produced any steel for about nine months because of a lack of funds to buy vital materials, with staff on furlough on 85% of their salaries for the duration, according to workers who spoke to the Guardian.
Lack of work at Rotherham and Motherwell sites highlights financial crisis at UK’s third-biggest steel producerLiberty Steel has produced nothing at two of its key UK plants since July, in a sign of the deep financial difficulties for Britain’s third-biggest steelmaker as it looks for rescue funding.The plants at Rotherham in South Yorkshire and Motherwell in Scotland have not produced any steel for about nine months because of a lack of funds to buy vital materials, with staff on furlough on 85% of their salaries for the duration, according to workers who spoke to the Guardian. Continue reading… Steel industry, Manufacturing sector, Business, UK news, Sanjeev Gupta, Greensill, Law, Accountancy, Corporate governance Business | The Guardian
