Jump to content


British steel facing administration

Recommended Posts

Personally I think the cash should have been given .Afterall had the government of the day completed the task that they are paid for and elected to do then perhaps this scenario would not have happened.

 

Share this post


Link to post
Share on other sites
1 hour ago, geared said:

Yea but how much can you give??  They've recently swallowed over £100m and are back asking for more just a few months later.

Sounds alot but that will the total benefits bill for 5000 workers for about a year, 2 max - on my brief calculations. God knows how much it will cost to clear up the site and make it.safe and useable for something else.

Share this post


Link to post
Share on other sites

The government has said it was not legal to continue providing cash to the company, against state funding laws?

33 minutes ago, tinfoilhat said:

Sounds alot but that will the total benefits bill for 5000 workers for about a year, 2 max - on my brief calculations. God knows how much it will cost to clear up the site and make it.safe and useable for something else.

Something our government(s) and particularly the Torys have a good track record with though.

 

Shut em down and stick em on the dole.

Share this post


Link to post
Share on other sites
5 hours ago, bendix said:

 

It's been forced into liquidation, not administration.  Administration would give it a chance of surviving; liquidation doesn't.

 

Its demise was unavoidable.   The type of contracts BS works with are negotiated well in advance and are usually in place for 2-3 years.  With customers having no idea what tariffs on steel might be post Brexit, orders have collapsed and customers have gone elsewhere.  The government is unwilling to lend it the type of bridging loan required because it too has no idea what outcome Brexit will look like, or when, so doesn't know how viable the company is in terms of repaying the loans.

 

This is all coming from Greyball and BS management themselves, whom my company has close working relationships with.

 

The average salary at British Steel is £36,000 per annum, so that is 2000 relatively well-paid jobs gone.   Heartbreaking of course.  I wonder how many of them were turkeys voting for xmas three years ago?

Scunny has been in trouble before we even had the referendum vote 3 years ago. More anti Brexit propaganda as usual from another remoaner.

 

Angel1.

9 hours ago, Baron99 said:

The incredible fact that I've just heard on the BBC says it all.  China has produced as much steel in the past 2 years than Britain has produced in its entire history.  

 

Not saying its all quality steel products but in this day & age in our chuck away consumerism, if your product starts rusting after a few months, just throw it away & buy another cheap one rather than buy the expensive quality one. 

 

Manufacturers of course have their role to play but if we're happy as consumers to by cheap stuff, they'll be happy to manufacture their products from cheap steel & turn a bigger profit in to the bargain. 

According to the news on the wireless, China produces 50% of the WORLDS production of steel, it also gets state subsidies to help it on its way, that's why we cannot compete with it.

 

Angel1.

 

Share this post


Link to post
Share on other sites
4 minutes ago, ANGELFIRE1 said:

Scunny has been in trouble before we even had the referendum vote 3 years ago. More anti Brexit propaganda as usual from another remoaner.

 

Angel1.

It's not coming from another remoaner at all.  It is cold hard facts coming from the company themselves.  We work with them.  We are working on their liquidation.  We can see their order books. We have been involved in discussions with their customers who have told us that uncertainty over tariffs as a result of Brexit is THE reason they are looking for other suppliers.

 

They have done well up to know simply because in an industry where two year contract cycles are the norm, they have traded on those contracts made in 2016 and 2017.  They have been profitable.  They posted profits for the first quarter of this year.

 

The orders dried up over the last two months when it became apparent the golden goose of a deal with the EU that you all said would be a doddle, hasn't proven to be the case.

 

Share this post


Link to post
Share on other sites
1 hour ago, ANGELFIRE1 said:

Scunny has been in trouble before we even had the referendum vote 3 years ago. More anti Brexit propaganda as usual from another remoaner.

As if it needs any "propoganda", it's dying under the weight of it's own stupidty.

 

Deny all you like, just shows your utter lack of integrity. You voted for it...

 

1 hour ago, bendix said:

The orders dried up over the last two months when it became apparent the golden goose of a deal with the EU that you all said would be a doddle, hasn't proven to be the case.

Indeed, the failure lies entirely with Brexiteers who failed to deliver, and those who were foolish enough to vote for a fantasy.

Share this post


Link to post
Share on other sites
1 hour ago, bendix said:

It's not coming from another remoaner at all.  It is cold hard facts coming from the company themselves.  We work with them.  We are working on their liquidation.  We can see their order books. We have been involved in discussions with their customers who have told us that uncertainty over tariffs as a result of Brexit is THE reason they are looking for other suppliers.

 

They have done well up to know simply because in an industry where two year contract cycles are the norm, they have traded on those contracts made in 2016 and 2017.  They have been profitable.  They posted profits for the first quarter of this year.

 

The orders dried up over the last two months when it became apparent the golden goose of a deal with the EU that you all said would be a doddle, hasn't proven to be the case.

 

Apparently the terms the owners of BS wanted a loan would be illegal under both EU and WTO rules.

Share this post


Link to post
Share on other sites
3 hours ago, geared said:

Yea but how much can you give??  They've recently swallowed over £100m and are back asking for more just a few months later.

Not exactly  . Greybull went to the Govt pleading for an advance on  the Carbon Credits and the Govt agreed to provide a loan of £ 120 mill . However it later  emerged that Greybull had allready sold this year's allowance  of Carbon Credits in an attempt to make  a quick Profit . Despite not being able to stump up £50 mill for British Steel Greybull,  last week bought french steel maker Ascoval for £40.7 mill

Share this post


Link to post
Share on other sites

Surprise surprise, Chinese steel, subsidised by their government, with scant regard to any environmental concerns is cheaper than ours.

Shafted again.

Share this post


Link to post
Share on other sites
19 minutes ago, Voice of reason said:

Surprise surprise, Chinese steel, subsidised by their government, with scant regard to any environmental concerns is cheaper than ours.

Shafted again.

 But its not just Chinese steel that is shafting us but also EU steel produced in the EU. Surprising as it may seem I actually agree with Ez8004 in that it should be left to its own demises.

Share this post


Link to post
Share on other sites
11 minutes ago, apelike said:

 But its not just Chinese steel that is shafting us but also EU steel produced in the EU. Surprising as it may seem I actually agree with Ez8004 in that it should be left to its own demises.

I used to Collect steel that had been made in Germany and take it from Felixstowe docks to skelemerdale and it worked out cheaper than buying British made stuff and it was said to be of better  Quality as well

Share this post


Link to post
Share on other sites
18 minutes ago, rudds1 said:

I used to Collect steel that had been made in Germany and take it from Felixstowe docks to skelemerdale and it worked out cheaper than buying British made stuff and it was said to be of better  Quality as well

Just dont buy anything that is made of Spanish stainless as it is poor quality which will stain with rust-marks. My sink is one, it is manufactured in the UK but made from steel imported from Spain.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.