British Steel sales process update
A number of bids have been made for British Steel
05 Jul 2019

‘Encouraging levels of interest in purchase of British Steel’

A number of bids have been made for British Steel following encouraging levels of interest in the sale of the business.

Although the company is in liquidation, it continues to operate as normal and the Official Receiver’s focus remains on finding a buyer for the whole company.

Gerald Reichmann, British Steel’s CEO, said: “I am pleased to say there has been an encouraging level of interest in the sale of our business from a number of bidders.

“Due to the complicated nature of the group and its businesses, the evaluation and clarification of the offers received will take time. Further engagement with the interested parties and stakeholders will likely take a couple weeks before a further announcement on the sale process will be made.

“We remain committed to trying to secure the long-term future of the overall business, and we continue to trade and supply our customers as normal during this process.

“The British Steel Support Group, chaired by the Business Secretary, Greg Clark MP, and comprising local politicians, British Steel management, trade unions and sector representatives continues to meet regularly.

“We are incredibly grateful for the ongoing commitment and dedication of our colleagues who continue to produce record levels of our high-quality products for our valued customers during this process.”