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UK-Australia trade deal to be drafted by year end, Truss says
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Liberty Steel
But administrators for Greensill now want that money back after the lender collapsed in March, forcing GFG to refinance its operations.
Sanjeev Gupta, the tycoon behind GFG, said: “The refinancing of the group, which is progressing well, brings closer the point of being able to honour our obligations to creditors.”
He added: “Despite the difficult circumstances, GFG Alliance contains many high-quality businesses which are performing strongly in record markets where customer demand and pricing are strong.
“By refocusing our businesses, we will protect more jobs and lay the foundations for future sustainable growth.”
Liberty Steel’s UK managing director, Jon Ferriman, will step down on Friday, while Roy Chowdhury, a turnaround and industry expert, will be appointed chief executive.