No one can accuse Liberty Steel boss Sanjeev Gupta of giving up the ghost. Faced with the collapse of his main lender Greensill and a refusal by Business Secretary Kwasi Kwarteng to provide £170million of rescue loans, he is hanging on by his fingertips.
In the latest moves to shore up his global empire, GFG Alliance, he is reported to have found funding for his Australian operations and has brought in experts to see what can be salvaged in terms of steel making in the UK.
The rescue team may be assisted by surging steel prices across the world as Covid retreats, demand surges and production bottlenecks develop.