The UK government is reportedly preparing to take control of Speciality Steels UK (SSUK) in Sheffield and Rotherham to safeguard around 1,500 jobs and ensure the plant continues operating. The facility, owned by Liberty Steel, uses electric arc furnaces to produce steel from scrap metal, a process considered more energy-efficient and crucial to the sector’s transition to lower-carbon production.
SSUK has faced financial difficulties since Liberty Steel’s main lender collapsed, leaving the company unable to procure the scrap metal required for production. Creditors, owed hundreds of millions of pounds, have petitioned for the business to enter liquidation so assets can be sold to recover debts. Lawyers for GFG Alliance, Liberty Steel’s parent company, requested a court adjournment to allow the company to enter administration and potentially be sold without government involvement.
The government has reportedly provided assurances it would step in to take over the steelworks if necessary. The High Court has adjourned the case, with a final decision on the company’s future still pending.
 in Sheffield and Rotherham to safeguard around 1,500 jobs and ensure the plant continues operating.){kind=link}