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Thousands of Jobs at risk: British Steel is insolvent

5000 jobs are in danger, in the case of supplier firms even 20,000: Britain's second-largest steel company is insolvent. British Steel pushes on the uncertaint

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Thousands of Jobs at risk: British Steel is insolvent

5000 jobs are in danger, in the case of supplier firms even 20,000: Britain's second-largest steel company is insolvent. British Steel pushes on the uncertainty due to the Brexit.

British Steel, the second largest steel producer in the United Kingdom, is insolvent. A court placed the company under compulsory liquidation, the government in London. A liquidator had been used.

As the reasons for the difficulties of the management Board chief Gerald Reichmann made the uncertainty about Brexit, as well as the weak demand and high raw material prices. Until recently, British Steel had sought state guarantees - in the end in vain.

thousands of jobs in danger

For British Steel, to work, around 5000 Employees, many of them in Scunthorpe, approximately 290 kilometres North of London. "The immediate priority is the safe operation of the site to continue," said liquidator David Chapman. The trading and the supply to the customer more. In the case of suppliers, according to media, around 20,000 Jobs reports are at risk.

The British government said it wanted to ensure the business of the steel Corporation over the coming weeks. A state guarantee, as the group requested, or more loans would have been, in the view of economy Minister Greg Clark, but it is illegal. Unions had demanded to nationalize the group.

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