8 March 2021

Greensill administration spills into steel

Specialist bank Greensill Capital has filed for administration putting 5,000 jobs at risk at Liberty Steel and other firms.

Closed door and shutters
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The bank is the main financial backer of Liberty Steel and at present, it is unclear what the move means for the steel group. Grant Thornton is carrying out the administration of Greensill's UK business.

UK Business Secretary Kwasi Kwarteng is understood to have been holding meetings regarding the potential impact on the UK steel industry. Union officials are due to have crisis talks with Liberty’s owner Sanjeev Gupta on Tuesday.

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