Worth reminding everyone of a basic here:
About 3,000 jobs are at risk after HM Revenue & Customs filed a winding-up order against large parts of Sanjeev Gupta’s Liberty Steel.
HMRC filed a petition at the High Court earlier this week to wind up Specialty Steels UK, which encompasses the electric arc furnaces of Rotherham in South Yorkshire and the nearby high-value processing plant at Stocksbridge, which supplies the British aerospace and automotive industries.
A winding up order does not destroy the business. It doesn’t liquidate the furnaces, doesn’t go in and nick the scrap feeds and so on. What it does do is nick the business off the current capitalists, strip it of its debt burden, then put it up for sale to some other capitalist bastards.
This shafts Gupta, not the business. So, by all means worry about saving the business – but saving Gupta is an entirely different thing.