British Steel: Insolvency

(asked on 5th June 2019) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government when they estimate they will cease to provide financial support to British Steel; whether a specific event will trigger the end of that support; and whether that support will terminate when the Official Receiver has completed their work.


Answered by
Lord Henley Portrait
Lord Henley
This question was answered on 19th June 2019

The immediate priority following the Official Receiver’s appointment as liquidator of British Steel Limited was to continue the safe operation of the sites while options are considered. To enable this, the Government has provided an indemnity to the Official Receiver, who is now responsible for the operations.

The Official Receiver is currently overseeing a sales process as they seek to sell the business. Trading will continue whilst a buyer is sought.

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