Liberty Steel founder requests bailout as company cashflow problems are compounded by Greensill collapse
Metals magnate Sanjeev Gupta has requested a £170m government bailout to save his conglomerate, owner of Britain’s third biggest steel group, from collapse.
Gupta, the founder of Liberty Steel and its sprawling holding company GFG Alliance, sent a letter to government officials late this week to request the cash. The firm has been strugglingin the face of the pandemic, with cashflow problems compounded by the collapse of its main financier Greensill Capital, which fell into administration earlier this month.
