British Steel Limited (BSL) was placed into compulsory liquidation on 22 May 2019. The High Court appointed the Official Receiver as liquidator of the Company and S J Woodward, R H Kelly and A M Hudson as special managers to support him. The Company’s subsidiaries are not in insolvency and are continuing to trade as normal.
Although BSL is in liquidation, it is continuing to trade and fulfil its current and future order book. At the same time, work continues to identify a buyer for the whole business. The company retains the support of its workforce, suppliers and customers.
The Official Receiver and the Government are taking every step possible to secure a successful future for this company and its suppliers, customers and dedicated staff.
The UK steel sector is in good shape. Demand for steel is steady and UK steelwork contractors have the capacity and capability to deliver future orders.
The UK has an efficient and mature stockholder and distribution sector and steel stock in the UK remain healthy as stockholders have already been preparing for a no deal Brexit.
The steel sector and its supply chain will continue to offer the construction sector the high level of services customers expect.