{"id":75687,"date":"2026-09-14T23:12:47","date_gmt":"2026-09-14T23:12:47","guid":{"rendered":"https:\/\/newsvog.com\/ur\/75687"},"modified":"2026-09-14T23:12:48","modified_gmt":"2026-09-14T23:12:48","slug":"uk-government-seeks-to-acquire-insolvent-specialist-steelmaker","status":"publish","type":"post","link":"https:\/\/newsvog.com\/ur\/75687","title":{"rendered":"UK government seeks to acquire insolvent specialist steelmaker"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div style=\"font-size:16px;line-height:1.6\">\n<p><strong>The UK government said on Monday it was drawing up a plan to \u200bpurchase Specialty Steel UK, a manufacturer that \u200chas previously supplied the auto, aero and defence industries, and which entered liquidation in August 2025.<\/strong><\/p>\n<p>Before \u200bentering liquidation, Specialty Steel was part \u200bof Liberty Steel, owned by commodities tycoon \u2060Sanjeev Gupta.<\/p>\n<p>The government said it was moving \u200btowards public ownership after deciding it could \u200bnot support a proposed private sector bid for the company, which has sites in northern and central England \u200band supports more than 1,300 jobs.<\/p>\n<p>\u201cWe \u200bdo not intervene in private companies lightly. But nor \u200ccan \u2060we simply stand aside and allow the future of this company and over 1,300 jobs to be decided by default,\u201d business minister \u200bJonathan Reynolds \u200bsaid.<\/p>\n<p>\u201cWorking towards \u2060public acquisition will keep options open while we work with local \u200bleaders, workers, industry and investors to \u200bdetermine \u2060the best long-term future for these sites.\u201d<\/p>\n<p>The government said any purchase was subject to due \u2060diligence \u200band would be funded from \u200bexisting government budgets. It did not set out how \u200bmuch the acquisition could cost.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/arynews.tv\/uk-government-seeks-to-acquire-insolvent-specialist-steelmaker\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK government said on Monday it was drawing up a plan to \u200bpurchase Specialty Steel UK, a manufacturer that \u200chas previously supplied the auto, aero and defence industries, and which entered liquidation in August 2025. Before \u200bentering liquidation, Specialty Steel was part \u200bof Liberty Steel, owned by commodities tycoon \u2060Sanjeev Gupta. The government said it was moving \u200btowards public&#8230;<\/p>\n","protected":false},"author":1,"featured_media":75688,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-75687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"taxonomy_info":{"category":[{"value":16,"label":"Pakistan"}]},"featured_image_src_large":["https:\/\/newsvog.com\/ur\/wp-content\/uploads\/UK-1024x576.jpg",1024,576,true],"author_info":{"display_name":"frkhokhar@gmail.com","author_link":"https:\/\/newsvog.com\/ur\/author\/frkhokhargmail-com"},"comment_info":0,"category_info":[{"term_id":16,"name":"Pakistan","slug":"pakistan","term_group":0,"term_taxonomy_id":16,"taxonomy":"category","description":"All about Pakistan","parent":0,"count":5334,"filter":"raw","cat_ID":16,"category_count":5334,"category_description":"All about Pakistan","cat_name":"Pakistan","category_nicename":"pakistan","category_parent":0}],"tag_info":false,"_links":{"self":[{"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/posts\/75687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/comments?post=75687"}],"version-history":[{"count":1,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/posts\/75687\/revisions"}],"predecessor-version":[{"id":75689,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/posts\/75687\/revisions\/75689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/media\/75688"}],"wp:attachment":[{"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/media?parent=75687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/categories?post=75687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/tags?post=75687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}