International Steel Mills
May 23, 2019
British Steel Faces Insolvency
Written by Sandy Williams
British Steel Ltd. has been ordered into liquidation after failing to receive another bailout from the government.
British Steel hoped to receive a $95 million support package from the government to help it with issues related to the U.K.’s withdrawal from the European Union. The government previously granted a $152 million loan to the company to help meet emission trading compliance costs. Any further funding could be considered illegal state aid, said U.K Business Secretary Greg Clark.
