Thousands of jobs at risk as British Steel to go into insolvency

British Steel is on the verge of administration, reports suggest Credit: PA
  • Thousands of jobs are at risk as British Steel is set to go into insolvency today.

  • The move threatens to create more uncertainty for workers at the company's plants in the UK, in Skinningrove and Lackenby in the North East.

  • Greybull Capital, who own British Steel, have been seeking financial support from the Government, said it faced a number of Brexit-related issues.

Thousands of jobs are at risk as British Steel is set to go into insolvency today.

The move threatens to create more uncertainty for workers here in the North East who have already suffered a turbulent time.

Greybull Capital, who own British Steel, have been seeking financial support from the Government, said it faced a number of Brexit-related issues.

The general secretary of the Community trade union, Roy Rickhuss, said this must be used as an "opportunity to look for an alternative future".

It is vital now that cool heads prevail and all parties focus on saving the jobs.

Roy Rickhuss

Unite assistant general secretary Steve Turner said it would "fight to secure the future of the company".Mr Turner also called on the Government to bring British Steel under public ownership until a feasable buyer could be found.

While Greybull cannot be allowed to walk away scot-free and must be held to account for its stewardship of Britain's second largest steelmaker, ministers cannot wash their hands of the Brexit farce and ongoing uncertainty that has placed the company in difficulty, nor allow a business of such strategic importance to UK plc to disappear like the steelworks of SSI several years ago.

Steve Turner

Yesterday British Steel said,

“We are aware of speculation that the May salaries may not be paid. For the avoidance of doubt, we can confirm that funding is in place and British Steel employees will be paid their salaries in full.

British Steel Statement