Summary
The UK's third-largest steelworks is now under government control. This affects around 1,500 workers as the authorities try to find a new owner for the facility.
Key Facts
- The steelworks is the third largest in the UK.
- It is located in Rotherham and Sheffield.
- The company, Speciality Steels UK (SSUK), owed hundreds of millions of pounds.
- Insolvency courts granted a winding-up order against SSUK.
- The Official Receiver and Teneo, a consultancy firm, are managing the company.
- The government will pay workers' wages and other costs for the time being.
- A buyer is sought to take over the steelworks.
