Concerns for the future of Liberty Steel and its 3,000 UK workers have grown after the government rejected its parent company’s plea for a £170m rescue loan. The rejection has added to the pressure on Liberty Steel, part of the business empire built up by the industrialist Sanjeev Gupta. About 1,000 of the Liberty Steel workforce are currently on furlough. Sign up to the daily Business Today emailA government spokesperson said: “The government is closely monitoring developments around Liberty Steel and continues to engage closely with the company, the broader UK steel industry and trade unions. “The government has supported the steel sector extensively, including providing over £500m in recent years to help with the costs of energy.

Source: The Guardian March 28, 2021 17:34 UTC