THURS, mar 10, 2022
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ISSUE : 1208
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LIBERTY STEEL: THOUSANDS OF JOBS SAVED AS WINDING UP ORDERS RETRACTED
STEEL SAVED HMRC has withdrawn petitions to close down four Liberty Steel companies, giving breathing space to the GFG Alliance metals empire presided over by Sanjeev Gupta. The UK winding-up petitions, revealed last month, threatened the jobs of 3,000 workers across five plants, mostly in the north of England, including relatively large plants that make speciality steel in Rotherham and Stocksbridge. Miriam Cates MP posted “The news of an agreement between Liberty Steel and HMRC will be a relief to the entire Stocksbridge community, and especially the employees of Speciality Steels and their families.
We all want to see this nationally important site producing world-class steel and providing secure employment for its workers. And whilst this period of uncertainty is not over, this is an important step forward towards a more secure future for the company.
I'm continuing to work locally and in Parliament to make the case for the strategic importance of Stocksbridge steel. Recent events have made ever clearer our need to have our own domestic suppliers of critical products such as steel. Charlotte Childs, GMB Union National Officer, said: “Thousands of jobs will be saved in the short term, but
we are far from out of the woods. GMB will now be seeking to continue constructive dialogue with GFG Alliance to ensure the impact of the financial restructuring and transformation package is felt in the right places.” As well as the financial problems, GFG has a threat of criminal investigations from the UK’s Serious Fraud Office and French prosecutors hanging over it. In a written statement, Gupta said: “With refinancing initiatives well under way and our businesses performing well, this will be a formative year for our organisation as we work through our transformation plan.
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