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22 May 2019

Supply chain at risk as British Steel collapses into insolvency

Responding to the news that British Steel will enter insolvency, Mike Cherry, National Chairman at the Federation of Small Businesses, said:

“This is a hugely unsettling time for the British Steel workforce, who will be devastated by this announcement. The news is also extremely worrying for the large network of small businesses involved in the company’s supply chain, who will now be very concerned about the future. 

“The closure will cause a huge knock on impact across the communities surrounding the company’s plants. A raft of small firms like caterers, cafes, cleaners, shops and visitor attractions, all of which employs their own staff, rely heavily on British Steel.

“Businesses throughout the supply chain will need guidance and support as the situation develops.”