Business & Investment

Liberty Steel secures £ 50m cash injection and protects 1,000 jobs

Sanjeev Gupta’s Liberty Steel secures £ 50m in cash injections and protects 1,000 jobs at its Rotherham and Stocksbridge plants.


Sanjeev Gupta’s Liberty Steel secures £ 50m in cash injections and protects 1,000 jobs at its Rotherham and Stocksbridge plants.

The deal was part of the broader restructuring of Liberty’s owner, the GFG Alliance, and was sought to raise funds when its major lender, Greensill Capital, collapsed.

Boost: The GFG Alliance at Sanjeb Gupta said cash could reopen the Rotherham and Stocksbridge plants this month.

The GFG Alliance said the cash could be reopened this month after the Rotherham and Stocksbridge plants were closed in the spring. The steel union community said it was “delinquent” but “an important step in the right direction.”

Liberty Steel hired 3,000 steel workers in the United Kingdom in early 2021. However, when Green Sill collapsed in early March, its future was questioned.

Since then, GFG has struggled to raise new funding, but the majority of its workers have been temporarily dismissed.

In April, the GFG sought help from the government, but the request was rejected by Secretary-General Kwasi Kwaten.

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Liberty Steel secures £ 50m cash injection and protects 1,000 jobs

https://www.dailymail.co.uk/money/markets/article-10078241/Liberty-Steel-secures-50m-cash-injection-safeguarding-1-000-jobs.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Liberty Steel secures £ 50m cash injection and protects 1,000 jobs

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