Written by: Keith Tully
Published: 11th April 2016
The downturn in the UK steel industry has caused a ripple effect across the economy in recent months with thousands of job losses at high-profile steel companies.
Despite the positive announcement on 11th April that part of Tata Steel's operations would be purchased by Greybull Capital, safeguarding 4,000 jobs, thousands of other steelworkers and businesses have suffered - or are expected to suffer - financially from the industry's decline.
The knock-on effect of the UK steel crisis, which has largely centred around major manufacturing firms in north-east England, central Scotland and south Wales, has been so widespread that some individuals have filed for bankruptcy and some businesses caught up in the supply chain have subsequently gone under.
At Real Business Rescue, our experienced team – particularly those close to the hardest hit areas – have been helping a large number of individuals, companies and creditors that have been affected.
We're currently providing free advice to all parties affected by the UK steel crisis and can offer expert guidance on the best route forward for those suffering from financial difficulties.
Our teams in areas such as Teesside, Hull, Glasgow, Swansea and Cardiff have been particularly active in assisting those affected by the steel industry downturn – contact your nearest office today for free, independent advice.
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The number of UK companies in positions of ‘significant financial distress’ were up 24 per cent at the end of the June 2021, as compared to the same point of last year.Read More
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