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Bidders circle around British Steel - Report

Steel News - Published on Fri, 24 May 2019

Image Source: Daily Mail
The Daily Mail reported that bidders are circling British Steel amid frantic efforts to find a buyer for the collapsed firm. An industry source said that several bidders have already registered expressions of interest, suggesting there is hope for a rescue. Companies including Liberty Steel and turnaround firm Endless are thought to be mulling making bids for British Steel.

Ministers are understood to be pushing for a single buyer or consortium to take the business on with up to 25,000 jobs at the company and its suppliers hanging in the balance.

Business Secretary Greg Clark said “In the days and weeks ahead, I will be working with the Official Receiver and a British Steel support group of management, trade unions, companies in the supply chain and local communities, to pursue remorselessly every possible step to secure the future of the valuable operations in sites at Scunthorpe, Skinningrove and on Teesside.”

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Posted By : Sanju Moirangthem on Fri, 24 May 2019
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