Stocksbridge Steel update

After a week of uncertainty surrounding Liberty Steel with news that its biggest lender, Greensill Bank had gone into administration, local MP Miriam Cates issued the following statement.

“I’ve been informed by the Department for Business that Secretary of State Kwasi Kwarteng had a constructive meeting yesterday evening with Community, GMB and Unite union leaders to discuss the ongoing situation at Liberty Steel.

Mr Kwarteng assured the Unions that he is continuing to monitor developments very closely and will work to build a strong, sustainable steel sector in the UK.

Stocksbridge Speciality Steels is an asset of national importance and over the coming days I will be continuing to urge the Government to do everything possible to protect jobs and livelihoods and make sure that there is a great future for steel in Stocksbridge.”

The Guardian reported on Monday 15 March “Gupta on Friday told GFC bosses to conserve cash while it negotiated new loans. Hundreds of workers at two of Liberty’s 11 UK plants – in Rotherham and Stocksbridge – were placed on furlough from Friday night, putting them on 80% pay on the government’s Covid job retention scheme.”