British Steel COLLAPSES after failing to secure funding putting 25,000 jobs at risk

By Hugo Gye and Martin BeckfordMANUFACTURING giant British Steel today collapsed putting the jobs of 25,000 workers at risk.

The company was forced to go into bankruptcy after a last-minute bid to secure an emergency loan from the Government failed.The firm's owner, Greybull Capital, was seeking £30million in funding to prevent the company going into receivership.unable to revive its fortunesMore than 4,000 people work at the British Steel plant in Scunthorpe and thousands more are involved in the company's supply chains.

"We would urge the management, contractors, suppliers and customers to support them in that fight for the future."

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