A committee of MPs is to launch an inquiry into the steel industry following the collapse of one of the biggest companies in the sector.
British Steel has gone into liquidation, threatening thousands of job losses, amid revelations that it would have run out of cash by the end of the week.
A three-year-old tweet came back to haunt Nigel Farage on the day of British Steel’s collapse into liquidation, as opponents reminded him of his prediction that a Remain referendum win would kill off Britain’s steel industry.
The announcement that British Steel has gone into liquidation is the latest blow to an industry which once dominated manufacturing in the UK, and to a works in Scunthorpe with a 150-year history.
British Steel has gone into liquidation after talks with the Government failed to secure its future, dealing a huge blow to the industry and threatening thousands of job losses.
British Steel is to go into official receivership after talks with the Government failed to secure its future.
The Government is being urged to nationalise British Steel if a deal cannot be reached to avoid the firm collapsing into administration.
Union leaders are set for talks with the Government on the future of British Steel after reports that it faces insolvency within days if a deal cannot be struck.
British Steel has announced it has the backing of its key stakeholders, including shareholders and lenders, and its operations will continue as normal.