Members will have seen the news reports that have just broken on British Steel. The courts have granted an application by the directors to enter into insolvency. The Official Receiver will now run a compulsory liquidation process.
BCSA is in ongoing discussions with BEIS and will speak to the Official Receiver or EY as soon as possible.
We will put out more detailed advice to members later today.
If members receive queries from clients or main contractors, the attached BCSA statement can be used to reassure them. BCSA is putting this out to the media today.
BCSA’s first thoughts are with the British Steel employees whose jobs are at risk. It is distressing that a key part of the UK’s proud industrial heritage may be lost.
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