British Steel in talks with government to avert collapse – BBC News

View of Scunthorpe steel plantImage copyright
British Steel

Talks to avert the collapse of British Steel will resume later on Friday after the firm secured funds to stay afloat until the end of May.

Sources close to owners Greybull Capital say its future will be discussed at “ministerial level”.

British Steel has admitted it needs further financial support from the government to help it address “Brexit-related issues”.

One possibility is a 75m government lifeline to the company.

Otherwise, ministers can decide to nationalise the firm or see it fall into administration.

On Thursday, British Steel said it had the backing of shareholders and lenders and that oper…

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