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British Steel forced into liquidation but will continue to trade

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05/22/2019 | 09:20am EDT
FILE PHOTO: A British Steel works sign is seen in Scunthorpe

LONDON (Reuters) - British Steel was forced into liquidation on Wednesday though Britain's second largest steelmaker will continue to trade and supply its customers, the official receiver said.

"The company in liquidation is continuing to trade and supply its customers while I consider options for the business. Staff have been paid and will continue to be employed," the official receiver said.

"The court also appointed Special Managers to assist me with my work and they are engaging with staff and their representatives to keep them informed, as well as contacting British Steel's customers."

The High Court of England and Wales has appointed Hunter Kelly, Sam Woodward and Alan Hudson of EY to act as special managers to assist the Official Receiver with his duties as liquidator.

(Reporting by Costas Pitas; editing by Guy Faulconbridge)

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