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Liberty Steel: UK government prepares to take over plant

The UK government aims to prevent SSUK's collapse due to financial strain from unpaid debts and energy costs, safeguarding 1,500 jobs and maintaining critical steel production.

  • The UK government is preparing to intervene and assume control of the nation's third-largest steel manufacturing facility, owned by Liberty Steel, to address financial challenges and protect nearly 1,500 jobs.
  • The intervention follows a High Court hearing on Wednesday and ongoing creditor petitions calling for SSUK's compulsory liquidation due to unpaid debts.
  • Sanjeev Gupta, head of GFG Alliance which controls Liberty Steel, intends to use a pre-pack administration to restructure SSUK and lower its debts, although this plan has encountered resistance in court.
  • A government letter stated the Official Receiver is ready to take control if liquidation occurs, while Liberty Steel noted a nearly £200m investment supporting steel's strategic role.
  • The government's move aims to protect 1,500 jobs and ensure continuity amid market challenges, although nationalization and uncertainty remain likely outcomes.
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The British government will take temporary control of Speciality Steel, the country's third largest steel plant, which employs 1,450 people, after being placed in liquidation by the court, according to a spokesman, a new sign of the great difficulties of the sector. ...

·Brussels, Belgium
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Liberty Steel, the steel mill of Indian-origin tycoon Sanjiv Gupta, in the United Kingdom, is facing serious problems.

·Greece
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Bloomberg broke the news in United States on Wednesday, August 20, 2025.
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