Soaring electricity bills are undermining the efforts of the troubled metals tycoon Sanjeev Gupta to retain control of his British steel plants and save them from collapse.
Industry sources said that Mr Gupta’s budgetary shortfall has now ballooned to more than £200m as he fights to restructure debts previously provided by failed lender Greensill Capital.
Oooooh, no, no no. Wasn’t a towering pile of unpayable debt at all. Electricity prices rose, that’s what caused the problem.
As with lefties insisting Venezuela fell over because oil prices fell. Except oil prices fell years after Venezuela fell over…..
GFG’s UK business are strategic assets for the country and can have a viable future.
Quite possibly, but no one is suggesting liquidation of the assets, just muttering perhaps about liquidation of the current corporate envelopes…..