BRITISH prime minister Boris Johnson said his government is actively engaged in talks with Sanjeev Gupta's Liberty Steel and working on plans to save the company from collapse.
"I share very much the anxiety of families of steel workers who work in Liberty Steel," Johnson told parliament. "We are actively engaged."
According to earlier reports, officials are drawing up contingency plans if the government needs to step up to save the steelmaker from collapse and also jobs of thousands.
One of the likely plan being the government getting involved in running the company with state funds until a potential buyer comes along.
The future of Liberty Steel was put in doubt after its major financial backer Greensill Capital went into administration. Gupta's GFG Alliance, of which Liberty is a part, employs around 5,000 people at its more than 30 sites in the UK.
Liberty Steel operates across 12 countries, and is the third largest steelmaker in the UK. Looking at the struggles of the sector, Johnson's government will be staring a long haul.
