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Gloucestershire Business News

Fears over steel jobs as financial backers collapse

Fears have arisen over up to 5,000 jobs in the steel industry after the collapse of Greensill Capital.

One of the UK's largest speciality finance companies, Greensill is a major financier to Liberty Steel which employs 3,000 people.

Around 2,000 more jobs in the supply chain could be at risk after Greensill entered administration.

Greensill was valued at £3.5billion in October 2019 but early this week said it was in "severe financial distress".

The company also has contracts with a number of NHS trusts.

Union officials were due to hold talks with Liberty Steel owner Sanjeev Gupta.

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