British Steel is on the brink of collapse: 25,000 jobs at risk
British Steel, the UK's second-largest steel producer, is on the brink of collapse unless the government agrees to provide a £ 30 million (or $ 38 million) emergency loan no later than Tuesday, an informed source said. /p>
The Greybull Capital steel mill employs approximately 5,000 people, mostly in Scunthorpe, in the north of England, with an additional 20,000 dependent on the entire supply chain.
“The British steel industry is strategically important to the entire British industry. So the government has to intervene, ”said Jill Furniss, a Labor Party spokeswoman.
The unions have also demanded that the government give a loan to British Steel.
“GMB, a steelworkers union, is calling on the government and Greybull Capital to redouble efforts to maintain a national pride of steel and highly skilled jobs,” said National Director Ross Murdoch.
A spokesperson for the UK Business Department declined to comment on British Steel's details, but said: “We are in regular talks with all companies.