Credit Suisse’s decision to enter into a standstill deal with Sanjeev Gupta in order to speed up the liquidation of its Greensill supply chain funds could turn out to be a risky move.
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SCORES of jobs could be at risk after a steel firm announced it is selling seven UK plants, including one in Witham. Liberty Steel Group has placed its Aluminium Technologies business up for sale, which operates the Witham plant on Freebourne Industrial Estate, meaning 66 jobs could be lost. Sales also include the company s largest UK site, its aerospace and special alloys business at Stocksbridge, near Sheffield, where 762 people currently work. Liberty first acquired the 15,000sqm Witham site in 2017 from automotive component manufacturer Amtek UK after it went into administration. The near collapse of Liberty came after its major lender, Greensill, went into administration in March.