Liberty Speciality Steel has collapsed into administration after a winding-up petition in the High Court, placing one of the UK’s most strategically important steelmaking businesses under government control.
The South Yorkshire-based company, which employs around 1,450 people, will now be managed by special officials appointed by the Government’s Official Receiver. Liberty Speciality Steel supplies high-grade steel products to critical sectors including aerospace, defence, power generation, oil and gas, and rail. Its specialist alloys are used in everything from aircraft carriers and military aircraft landing gear to turbines and control systems.
The collapse marks another major blow for the UK’s struggling steel industry. Recent years of low production volumes have left gaps in the domestic supply chain, forcing manufacturers to rely on imports.
Gareth Stace, director general of UK Steel, welcomed the government’s intervention but urged urgent action to secure the future of the plants.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
