British Steel goes bankrupt, threatening 25,000 jobs
By
Robert Stevens
23 May 2019
Nearly 5,000 steelworkers jobs and another 20,000 in supply industries could be wiped out after Tuesdays announcement that British Steel is insolvent.
The company, owned by vulture fund Greybull Capital, is the second largest steel producer in the UK after Tata. Its main plant is in the town of Scunthorpe in the Northeast of England where steel production goes back 150 years and where more than 3,000 workers are employed. Other jobs are threatened at the companys plants in Skinningrove, north Yorkshire and at Blaydon, in Gateshead. The firm also has a research and development facility in Rot…
Read the full article at: https://www.wsws.org/en/articles/2019/05/23/stee-m23.html