The lights could go out for good at the 98-year-old Redcar steel plant if a buyer is not found in the next week.
After that unless someone takes it over or the government step in, it will be no more, resulting in the loss of thousands of jobs in the region.
ITV News North of England Correspondent Damon Green reports:
Hundreds of families in the North East are struggling to come to terms with the impending closure of the SSI steelworks plant in Redcar.
The government has decided to allow the steel plant at Redcar to fail. A tough decision to make and obviously an unpopular one.
China's economy is slowing, and the aftershocks are being felt as far afield as Redcar.