British Steel collapse: 25,000 jobs at risk as assets liquidated | WHAT REALLY HAPPENED


British Steel collapse: 25,000 jobs at risk as assets liquidated

British Steel has been ordered into compulsory liquidation after talks with the government failed to secure a bailout, threatening the jobs of about 5,000 employees, with another 20,000 jobs in the supply chain.

The steelmaker had requested an emergency $38m bailout loan from the British government following dwindling European sales amid Brexit uncertainty, and an ill-fated decision to sell off excess carbon credits earlier this year.

Just three weeks ago, the government had given a $150m loan to the company.

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