British Steel on verge of administration
British Steel is on the verge of administration as it continues to lobby for government backing, sources say.
The UK's second-biggest steel maker had been trying to secure £75m in financial support to help it to address "Brexit-related issues".
If the firm does not get the cash it would put 4,500 jobs at risk and endanger 20,000 in the supply chain.
Company sources said that the direction of talks with the government would become clearer in the coming hours.
British Steel's main plant is at Scunthorpe, but it also has a site in Teesside.
Scunthorpe is in North Lincolnshire, which voted 66% Leave, 34% Remain (
source) and all Teesside areas voted >60% Leave (
source).
Wonder how many people there are planning to vote for the Brexit party.