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Fears for 5,000 UK steel jobs as lender nears collapse


BBC News
By Simon Jack
image captionSanjeev Gupta, who has been called the saviour of steel
The principal financial backer of one of the UK s largest industrial groups has fallen into administration.
Specialist bank Greensill Capital was the main lender to businessman Sanjeev Gupta s sprawling empire, which includes Liberty Steel.
The appointment of administrators to Greensill puts 5,000 jobs at risk at Liberty Steel and other firms.
In a court filing, Greensill said Mr Gupta s operations were in financial difficulty and defaulting on debt.
Mr Gupta declined to comment on the claims, but his business GFG Alliance earlier said that it had adequate funding for its current needs. ....

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