geared Posted May 22, 2019 Share Posted May 22, 2019 The government has said it was not legal to continue providing cash to the company, against state funding laws? 33 minutes ago, tinfoilhat said: Sounds alot but that will the total benefits bill for 5000 workers for about a year, 2 max - on my brief calculations. God knows how much it will cost to clear up the site and make it.safe and useable for something else. Something our government(s) and particularly the Torys have a good track record with though. Shut em down and stick em on the dole. Link to comment Share on other sites More sharing options...
ANGELFIRE1 Posted May 22, 2019 Share Posted May 22, 2019 5 hours ago, bendix said: It's been forced into liquidation, not administration. Administration would give it a chance of surviving; liquidation doesn't. Its demise was unavoidable. The type of contracts BS works with are negotiated well in advance and are usually in place for 2-3 years. With customers having no idea what tariffs on steel might be post Brexit, orders have collapsed and customers have gone elsewhere. The government is unwilling to lend it the type of bridging loan required because it too has no idea what outcome Brexit will look like, or when, so doesn't know how viable the company is in terms of repaying the loans. This is all coming from Greyball and BS management themselves, whom my company has close working relationships with. The average salary at British Steel is £36,000 per annum, so that is 2000 relatively well-paid jobs gone. Heartbreaking of course. I wonder how many of them were turkeys voting for xmas three years ago? Scunny has been in trouble before we even had the referendum vote 3 years ago. More anti Brexit propaganda as usual from another remoaner. Angel1. 9 hours ago, Baron99 said: The incredible fact that I've just heard on the BBC says it all. China has produced as much steel in the past 2 years than Britain has produced in its entire history. Not saying its all quality steel products but in this day & age in our chuck away consumerism, if your product starts rusting after a few months, just throw it away & buy another cheap one rather than buy the expensive quality one. Manufacturers of course have their role to play but if we're happy as consumers to by cheap stuff, they'll be happy to manufacture their products from cheap steel & turn a bigger profit in to the bargain. According to the news on the wireless, China produces 50% of the WORLDS production of steel, it also gets state subsidies to help it on its way, that's why we cannot compete with it. Angel1. Link to comment Share on other sites More sharing options...
bendix Posted May 22, 2019 Share Posted May 22, 2019 4 minutes ago, ANGELFIRE1 said: Scunny has been in trouble before we even had the referendum vote 3 years ago. More anti Brexit propaganda as usual from another remoaner. Angel1. It's not coming from another remoaner at all. It is cold hard facts coming from the company themselves. We work with them. We are working on their liquidation. We can see their order books. We have been involved in discussions with their customers who have told us that uncertainty over tariffs as a result of Brexit is THE reason they are looking for other suppliers. They have done well up to know simply because in an industry where two year contract cycles are the norm, they have traded on those contracts made in 2016 and 2017. They have been profitable. They posted profits for the first quarter of this year. The orders dried up over the last two months when it became apparent the golden goose of a deal with the EU that you all said would be a doddle, hasn't proven to be the case. Link to comment Share on other sites More sharing options...
Magilla Posted May 22, 2019 Share Posted May 22, 2019 1 hour ago, ANGELFIRE1 said: Scunny has been in trouble before we even had the referendum vote 3 years ago. More anti Brexit propaganda as usual from another remoaner. As if it needs any "propoganda", it's dying under the weight of it's own stupidty. Deny all you like, just shows your utter lack of integrity. You voted for it... 1 hour ago, bendix said: The orders dried up over the last two months when it became apparent the golden goose of a deal with the EU that you all said would be a doddle, hasn't proven to be the case. Indeed, the failure lies entirely with Brexiteers who failed to deliver, and those who were foolish enough to vote for a fantasy. Link to comment Share on other sites More sharing options...
hobinfoot Posted May 22, 2019 Share Posted May 22, 2019 1 hour ago, bendix said: It's not coming from another remoaner at all. It is cold hard facts coming from the company themselves. We work with them. We are working on their liquidation. We can see their order books. We have been involved in discussions with their customers who have told us that uncertainty over tariffs as a result of Brexit is THE reason they are looking for other suppliers. They have done well up to know simply because in an industry where two year contract cycles are the norm, they have traded on those contracts made in 2016 and 2017. They have been profitable. They posted profits for the first quarter of this year. The orders dried up over the last two months when it became apparent the golden goose of a deal with the EU that you all said would be a doddle, hasn't proven to be the case. Apparently the terms the owners of BS wanted a loan would be illegal under both EU and WTO rules. Link to comment Share on other sites More sharing options...
lobster Posted May 22, 2019 Share Posted May 22, 2019 3 hours ago, geared said: Yea but how much can you give?? They've recently swallowed over £100m and are back asking for more just a few months later. Not exactly . Greybull went to the Govt pleading for an advance on the Carbon Credits and the Govt agreed to provide a loan of £ 120 mill . However it later emerged that Greybull had allready sold this year's allowance of Carbon Credits in an attempt to make a quick Profit . Despite not being able to stump up £50 mill for British Steel Greybull, last week bought french steel maker Ascoval for £40.7 mill Link to comment Share on other sites More sharing options...
Voice of reason Posted May 22, 2019 Share Posted May 22, 2019 Surprise surprise, Chinese steel, subsidised by their government, with scant regard to any environmental concerns is cheaper than ours. Shafted again. Link to comment Share on other sites More sharing options...
apelike Posted May 22, 2019 Share Posted May 22, 2019 19 minutes ago, Voice of reason said: Surprise surprise, Chinese steel, subsidised by their government, with scant regard to any environmental concerns is cheaper than ours. Shafted again. But its not just Chinese steel that is shafting us but also EU steel produced in the EU. Surprising as it may seem I actually agree with Ez8004 in that it should be left to its own demises. Link to comment Share on other sites More sharing options...
rudds1 Posted May 22, 2019 Author Share Posted May 22, 2019 11 minutes ago, apelike said: But its not just Chinese steel that is shafting us but also EU steel produced in the EU. Surprising as it may seem I actually agree with Ez8004 in that it should be left to its own demises. I used to Collect steel that had been made in Germany and take it from Felixstowe docks to skelemerdale and it worked out cheaper than buying British made stuff and it was said to be of better Quality as well Link to comment Share on other sites More sharing options...
apelike Posted May 22, 2019 Share Posted May 22, 2019 18 minutes ago, rudds1 said: I used to Collect steel that had been made in Germany and take it from Felixstowe docks to skelemerdale and it worked out cheaper than buying British made stuff and it was said to be of better Quality as well Just dont buy anything that is made of Spanish stainless as it is poor quality which will stain with rust-marks. My sink is one, it is manufactured in the UK but made from steel imported from Spain. Link to comment Share on other sites More sharing options...
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