Government set to nationalise troubled steel firm
Reynolds said a bidder had come forward earlier this year, but the government had decided against supporting it, citing "serious concerns" over the proposed financing of the deal and "protections for UK taxpayers". Ministers had therefore decided that the government would plan its own formal acquisition of the business, he explained.Production at the business, which employs about 1,300 people, was paused several months ago, with staff put on furlough on reduced wages.
- ▪Reynolds said a bidder had come forward earlier this year, but the government had decided against supporting it, citing "serious concerns" over the proposed financing of the deal and "protections for UK taxpayers".
- ▪Ministers had therefore decided that the government would plan its own formal acquisition of the business, he explained.Production at the business, which employs about 1,300 people, was paused several months ago, with staff put on furlough
2 outlets in our directory ran this story, first to last over 1 hour. All of the coverage we found sits in one bucket: lean left. That one-sidedness is itself worth noticing.
- ▪ Government moves to nationalise Speciality Steel UK to protect 1,300 jobs — The Guardian — World
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| Original publisher | BBC News — Business |
| Canonical URL | https://www.bbc.co.uk/news/articles/cm9w47ngje9no?at_medium=RSS&at_campaign=rss |
| Publication time | Mon, 14 Sep 2026 16:58:23 GMT |
| Retrieval time | 2026-09-14T17:11:52.127Z |
| Last seen | 2026-09-14T17:11:52.127Z |
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| Cluster | A4tjsK8nXSFg · 2 stories |
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Government set to nationalise troubled steel firmImage source, Getty ImagesImage caption, Production was halted at Speciality Steel's sites in Rotherham (pictured), Stocksbridge and Wednesbury earlier this yearPublished11 minutes agoA plan to nationalise the UK's third-largest steelworks is being developed by the government, MPs have been told.Business Secretary Jonathan Reynolds told the House of Commons ministers were looking to acquire Speciality Steel UK (SSUK), which has sites in Stocksbridge and Rotherham in South Yorkshire and Wednesbury in the West Midlands.The government initially took control of SSUK, previously part of Liberty Steel, last year after it was forced to liquidate by the High Court.
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