British Steel enters insolvency after rescue talks with government fail

Steelmaker directly employs 5,000 people and thousands more in the supply chain

British Steel has entered insolvency, putting 5,000 jobs directly at risk and endangering thousands more in the supply chain after talks with the UK government failed to reach an agreement on emergency funding.

The business secretary, Greg Clark, issued a statement on Wednesday following confirmation that the court has granted an application by the directors of British Steel to enter an insolvency process.

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