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British Steel insolvency plan places thousands of jobs at risk | Business News



British Steel is expected to be placed into an insolvency process on Wednesday, putting thousands of jobs at risk, Sky sources say.

Sky’s City editor Mark Kleinman said he understood administrators for the business services firm EY were in court finalising their appointment and the company’s looming collapse.

It followed, he said, the apparent failure of British Steel’s owners to secure additional funding from the government after ministers allowed a £120m loan to cover the cost of an EU carbon bill.

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