Free Expert Advice for Steelworkers and Creditors Financially Affected by Steel Crisis
Written by: Keith Tully
Reviewed: Monday 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.
- Individuals – such as steelworkers that have lost their jobs or been asked to accept reduced salaries, leading to financial difficulties
- Companies – those who will lose future business from the decline of the steel industry, or housing agencies and landlords that have seen their tenants fall into arrears due to losing their jobs
- Creditors – from small businesses to large companies, there are numerous creditors caught up in the industry's demise having been owed money from steel firms that are unable to meet their liabilities
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.
Author
Keith Tully
Partner
Keith has been involved in Business Rescue since 1992, during which time he’s worked for both independent and national firms. His specialties include company restructuring matters and negotiating with HMRC on his clients behalf.
Further Reading
Free Guide for Limited Company Directors
Business Rescue Advice for Directors
- How to manage company cash flow problems
- Advice on dealing with HMRC
- Understanding rescue and closure options
- And much more...
Business Rescue Guide for Accountants
Dealing with your Insolvent Clients
- Helping you advise insolvent clients
- Spotting signs of client distress
- Exploring business rescue options
- And much more...
