One of the UK’s biggest steelworks has been taken over by the government after it collapsed into administration, putting thousands of jobs at risk.
Speciality Steel UK, previously part of Sanjeev Gupta’s Liberty Steel business, employs 1,450 people at sites in Stocksbridge and Rotherham.
On Wednesday, a specialist insolvency court heard the company was in millions of pounds worth of debt to creditors but only had £650,000 in its bank account.
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