Nicola Sturgeon's multi-million pound steel deal is in the spotlight again (Image: Getty)

       Nicola Sturgeon's ￡568million taxpayer-funded deal struck with steel tycoon Sanjeev Gupta is back in the spotlight. The SNP-led Scottish Government entered into an agreement with Mr Gupta's GFG Alliance in 2016.

       Two steel mills were bought from Tata Steel by the Scottish Government for ￡1 before being transferred to Mr Gupta, backed with a ￡7m taxpayer funded loan. But the Scottish Daily Express reports workers at Dalzell and Clydebridge in Lanarkshire were furloughed on 80% pay and the last working mill in Scotland left standing idle.

       Article continues below ADVERTISEMENT

       Japanese Grip Device Could Delay Assisted Living for MillionsUS Medicine Today | Sponsored Sponsored

       Learn More

       Undo

       DON'T MISS

       Powered by

       Huge blow to Angela Rayner's plans to build new towns across UK - as each will cost ￡4bn

       159 Comments

       Lloyds Bank explains transfer rules as 'you can use any offer'

       Comments

       Fury as Starmer's defence pact claims labelled 'paper thin' and a 'glorified talking shop'

       48 Comments

       The UK's richest family revealed - worth a whopping ￡34bn more than King Charles

       3 Comments

       Russian economy collapse as profits plummet 42% at country's biggest steel firm

       10 Comments

       The UK's 10 richest people revealed - full list

       1 Comments

       Princess Kate and Prince William named in Times100 list but Harry and Meghan snubbed

       78 Comments

       Rachel Reeves ridiculed after Government spend up saw highest borrowing surge in 5 years

       48 Comments

       Furious farmers slam Labour's 'lack of transparency' over family farm tax

       11 Comments

       Donald Trump's plan backfires as ￡1.9tn industry fears 'slump' as tourists 'avoid the US'

       4 Comments

       Minister gives key migration update as fury rises over Labour's Brexit betrayal

       156 Comments

       Hundreds of thousands of pensioners hit with surprise HMRC tax bill

       2 Comments

       Guinness drinkers dealt huge blow as owner issues price update

       14 Comments

       Teachers are losing their jobs because schools have run out of money

       2 Comments

       Las Vegas: Bold Lamp Design Steals Showtopgadgetlife | Sponsored Sponsored

       Learn More

       Undo

       Kate Garraway suffers 'shock' setback as she tackles late husband Derek Draper's debts

       12 Comments

       Rachel Reeves' net zero plan risks ￡7trn 'zombie debt' explosion, expert warns

       109 Comments

       Linda Kozlowski, 67, Shows Off Her Perfect Figure In A New PhotoInvestructor | Sponsored Sponsored

       Undo

       Russia economy meltdown as top firm 'loses ￡290m' and rail shipments plummet

       24 Comments

       Sheikh Jassim and Qataris make call over renewing Man Utd interest as share price tumbles

       5 Comments

       Danica Patrick's Actual Size Left Fans SpeechlessReportingly | Sponsored Sponsored

       Undo

       'James Bond' crystal glassmaker warns UK economy is smashing centuries of skills

       6 Comments

       Primark makes big change at all 187 stores at the till and says 'it's live now'

       3 Comments

       Seniors Born 1941-1979 Receive 55 Benefits This Month if They AskWalletJump | Sponsored Sponsored

       Learn More

       Undo

       Huge blow to Angela Rayner's plans to build new towns across UK - as each will cost ￡4bn

       159 Comments

       Lloyds Bank explains transfer rules as 'you can use any offer'

       Comments

       Scarlett Johansson, 40, Shows Off Her Real Size In A New Vacation Photos33 Bridges | Sponsored Sponsored

       Undo

       Fury as Starmer's defence pact claims labelled 'paper thin' and a 'glorified talking shop'

       48 Comments

       The UK's richest family revealed - worth a whopping ￡34bn more than King Charles

       3 Comments

       Mature Singles, 50+ UsersMeetwithmature | Sponsored Sponsored

       Read More

       Undo

       Russian economy collapse as profits plummet 42% at country's biggest steel firm

       10 Comments

       The UK's 10 richest people revealed - full list

       1 Comments

       Doctors Stunned: New ED Med Works in Just MinutesMens Health | Sponsored Sponsored

       Undo

       Princess Kate and Prince William named in Times100 list but Harry and Meghan snubbed

       78 Comments

       Rachel Reeves ridiculed after Government spend up saw highest borrowing surge in 5 years

       48 Comments

       9 ED Pills for $7—Better Than Any CVS Couponfridayplans | Sponsored Sponsored

       Learn More

       Undo

       Furious farmers slam Labour's 'lack of transparency' over family farm tax

       11 Comments

       Donald Trump's plan backfires as ￡1.9tn industry fears 'slump' as tourists 'avoid the US'

       4 Comments

       Has Honda Done It Again? The New Honda CR-V is Finally Here.TheFactualist | Sponsored Sponsored

       Minister gives key migration update as fury rises over Labour's Brexit betrayal

       156 Comments

       Hundreds of thousands of pensioners hit with surprise HMRC tax bill

       2 Comments

       Guinness drinkers dealt huge blow as owner issues price update

       14 Comments

       Teachers are losing their jobs because schools have run out of money

       2 Comments

       Kate Garraway suffers 'shock' setback as she tackles late husband Derek Draper's debts

       12 Comments

       Rachel Reeves' net zero plan risks ￡7trn 'zombie debt' explosion, expert warns

       109 Comments

       Russia economy meltdown as top firm 'loses ￡290m' and rail shipments plummet

       24 Comments

       Sheikh Jassim and Qataris make call over renewing Man Utd interest as share price tumbles

       5 Comments

       'James Bond' crystal glassmaker warns UK economy is smashing centuries of skills

       6 Comments

       Primark makes big change at all 187 stores at the till and says 'it's live now'

       3 Comments

       Huge blow to Angela Rayner's plans to build new towns across UK - as each will cost ￡4bn

       159 Comments

       Lloyds Bank explains transfer rules as 'you can use any offer'

       Comments

       Fury as Starmer's defence pact claims labelled 'paper thin' and a 'glorified talking shop'

       48 Comments

       The UK's richest family revealed - worth a whopping ￡34bn more than King Charles

       3 Comments

       Russian economy collapse as profits plummet 42% at country's biggest steel firm

       10 Comments

       The UK's 10 richest people revealed - full list

       1 Comments

       Princess Kate and Prince William named in Times100 list but Harry and Meghan snubbed

       78 Comments

       READ MORE SNP council forced into humiliating climbdown as residents 'revolt'

       Get the latest politics news straight to your phone Join us on WhatsApp Our community members are treated to special offers, promotions, and adverts from us and our partners. You can check out at any time. Read our Privacy Policy

       The SNP also helped Mr Gupta take over Lochaber's aluminium smelter near Fort William in the same year with ￡600m in loan guarantees.

       Mr Gupta's Speciality Steels UK (SSUK) firm faces a winding-up petition. It doesn't include the entrepreneur's businesses in Scotland.

       Powered By

       10 Sec

       1K

       1K

       Celebrities Who Have Had Strange Pets

       Next

       Stay

       SSUK, which is part of the Liberty Steel Group founded by Mr Gupta, employs 1,450 people. The High Court heard that the steel company in South Yorkshire has avoided insolvency because a potential buyer has been found.

       Sponsored

       Healthy Glam | Sponsored Sponsored

       Read More

       Man Continues to Tease Royal Guard, Turns Pale When Something Unexpected Happens

       Undo

       A specialist judge on Wednesday (May 21) adjourned the winding up petition for eight weeks to allow time for the sale of the company to go through.

       Lawyers representing SSUK said at a hearing that "urgent meetings have been taking place" with a "third party purchaser".

       The Scottish Daily Express reports that these developments have raised concerns about impacts on Mr Gupta's operations in Scotland, which Liberty Steel Group have rejected.

       A Liberty Steel Group spokesman said: "The proceedings with regards to Speciality Steel UK have no relation to and effect on the Scottish businesses."

       Don't miss...

       Deluded SNP leader under fire after saying Reform voters have 'alien values' [REPORT]

       SNP begs Tories to attend summit to help put a stop to Nigel Farage's Reform [LATEST]

       Ex SNP boss 'avoids 'thousands in Scottish taxes by buying up English property' [REVEALED]

       Nevertheless, the Scottish Lib Dems urged Edinburgh and London to work together to secure a future for the sites.

       Its economy spokesman, Jamie Greene, said: "Workers at the Dalzell plant will be very worried about what this news could mean for them.

       "My party has repeatedly warned about the possibility that Liberty Steel operations could collapse. We wrote to the Deputy First Minister when it became clear that all was not well at Dalzell, but so far ministers have refused to act.

       "Today’s news must be the catalyst for both the UK and Scottish governments to come together and agree a joined-up strategy for this vital Scottish business. The Scottish Government has intervened before, albeit it hasn't gone well, so there is significant public interest in what it does next.

       "The Dalzell plant has huge potential, including in the wind industry. Ministers must act urgently for the sake of all those workers potentially at risk."

       A Department for Business and Trade spokesperson said: "We continue to closely monitor developments around Liberty Steel, including any public hearings, which are of course a matter for the company.

       "It is ultimately for Liberty to manage commercial decisions on the future of its companies, and we hope it succeeds with its plans to continue on a sustainable basis."

       SUBSCRIBE Invalid email

       We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy

       Trending

       Jeffrey Kabel, Liberty Steel's Chief Transformation Officer, said today's adjournment is a positive development which allows the company the necessary time to finalise options, including a sale of the business while the firm continues to pursue debt restructuring efforts.

       He added: "We remain committed to finding the right solution that preserves EAF steelmaking in the UK, a vital national asset serving strategic supply chains.

       "SSUK has been involved in complex debt restructuring since the collapse of Greensill Capital in 2021 restricting its access to capital. However, like all steel producers in the UK, SSUK has faced long-standing competitiveness challenges dating back decades.

       DON'T MISS

       Powered by

       Huge blow to Angela Rayner's plans to build new towns across UK - as each will cost ￡4bn

       159 Comments

       Lloyds Bank explains transfer rules as 'you can use any offer'

       Comments

       Fury as Starmer's defence pact claims labelled 'paper thin' and a 'glorified talking shop'

       48 Comments

       The UK's richest family revealed - worth a whopping ￡34bn more than King Charles

       3 Comments

       Russian economy collapse as profits plummet 42% at country's biggest steel firm

       10 Comments

       The UK's 10 richest people revealed - full list

       1 Comments

       Princess Kate and Prince William named in Times100 list but Harry and Meghan snubbed

       78 Comments

       Rachel Reeves ridiculed after Government spend up saw highest borrowing surge in 5 years

       48 Comments

       Furious farmers slam Labour's 'lack of transparency' over family farm tax

       11 Comments

       Donald Trump's plan backfires as ￡1.9tn industry fears 'slump' as tourists 'avoid the US'

       4 Comments

       Minister gives key migration update as fury rises over Labour's Brexit betrayal

       156 Comments

       Hundreds of thousands of pensioners hit with surprise HMRC tax bill

       2 Comments

       Guinness drinkers dealt huge blow as owner issues price update

       14 Comments

       Teachers are losing their jobs because schools have run out of money

       2 Comments

       Experts Tested 17 Hearing Aids. Their #1 Pick Will Shock Youhear.com | Sponsored Sponsored

       Undo

       Kate Garraway suffers 'shock' setback as she tackles late husband Derek Draper's debts

       12 Comments

       Rachel Reeves' net zero plan risks ￡7trn 'zombie debt' explosion, expert warns

       109 Comments

       Chuck Norris: If You're Over 60, Avoid These 3 Foods Like The PlagueRoundhouse Provisions | Sponsored Sponsored

       Watch Now

       Undo

       Russia economy meltdown as top firm 'loses ￡290m' and rail shipments plummet

       24 Comments

       Sheikh Jassim and Qataris make call over renewing Man Utd interest as share price tumbles

       5 Comments

       Explore Trading ToolsTradeStation | Sponsored Sponsored

       Learn More

       Undo

       'James Bond' crystal glassmaker warns UK economy is smashing centuries of skills

       6 Comments

       Primark makes big change at all 187 stores at the till and says 'it's live now'

       3 Comments

       Amazon's Best Spring Dresses (And Most Are on Sale)Country Living | Sponsored Sponsored

       Undo

       Huge blow to Angela Rayner's plans to build new towns across UK - as each will cost ￡4bn

       159 Comments

       Lloyds Bank explains transfer rules as 'you can use any offer'

       Comments

       Ditch Diets for GLP-1: See If You QualifyTrimRx | Sponsored Sponsored

       Go To Quiz

       Undo

       Fury as Starmer's defence pact claims labelled 'paper thin' and a 'glorified talking shop'

       48 Comments

       The UK's richest family revealed - worth a whopping ￡34bn more than King Charles

       3 Comments

       Rare tree, botanical gardens included in home for sale owned by ‘Train Lady’Homes.com | Sponsored Sponsored

       Undo

       Russian economy collapse as profits plummet 42% at country's biggest steel firm

       10 Comments

       The UK's 10 richest people revealed - full list

       1 Comments

       7 Things the New President Plans To Do for Seniors On SS This YearSuperSavings | Sponsored Sponsored

       Learn More

       Undo

       Princess Kate and Prince William named in Times100 list but Harry and Meghan snubbed

       78 Comments

       Rachel Reeves ridiculed after Government spend up saw highest borrowing surge in 5 years

       48 Comments

       Stay Cool with These Chic Summer Outfits From AmazonCountry Living | Sponsored Sponsored

       Undo

       Furious farmers slam Labour's 'lack of transparency' over family farm tax

       11 Comments

       Donald Trump's plan backfires as ￡1.9tn industry fears 'slump' as tourists 'avoid the US'

       4 Comments

       Type In Any Name, Wait 127 Seconds, See Instant ResultsFastest Search | Sponsored Sponsored

       Search Now

       Undo

       Minister gives key migration update as fury rises over Labour's Brexit betrayal

       156 Comments

       Hundreds of thousands of pensioners hit with surprise HMRC tax bill

       2 Comments

       Customer Data Platforms Secure & SimplifiedSearchPad | Sponsored Sponsored

       Undo

       Guinness drinkers dealt huge blow as owner issues price update

       14 Comments

       Teachers are losing their jobs because schools have run out of money

       2 Comments

       Kate Garraway suffers 'shock' setback as she tackles late husband Derek Draper's debts

       12 Comments

       Rachel Reeves' net zero plan risks ￡7trn 'zombie debt' explosion, expert warns

       109 Comments

       Russia economy meltdown as top firm 'loses ￡290m' and rail shipments plummet

       24 Comments

       Sheikh Jassim and Qataris make call over renewing Man Utd interest as share price tumbles

       5 Comments

       'James Bond' crystal glassmaker warns UK economy is smashing centuries of skills

       6 Comments

       Primark makes big change at all 187 stores at the till and says 'it's live now'

       3 Comments

       Huge blow to Angela Rayner's plans to build new towns across UK - as each will cost ￡4bn

       159 Comments

       Lloyds Bank explains transfer rules as 'you can use any offer'

       Comments

       Fury as Starmer's defence pact claims labelled 'paper thin' and a 'glorified talking shop'

       48 Comments

       The UK's richest family revealed - worth a whopping ￡34bn more than King Charles

       3 Comments

       Russian economy collapse as profits plummet 42% at country's biggest steel firm

       10 Comments

       The UK's 10 richest people revealed - full list

       1 Comments

       Princess Kate and Prince William named in Times100 list but Harry and Meghan snubbed

       78 Comments

       Malia Reveals Her Boyfriend & You Will Easily Recognize HimThe Latest Article

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       Seniors Can Now Fly Business Class For the Price Of EconomyOnline Shopping Tools

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       Seniors on SS Get New BenefitsWalletJump

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       Amazon Is Losing Money as Nevada Shoppers Are Canceling Prime for This Clever HackOnline Shopping Tools

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       "Throughout Liberty's ownership of SSUK its shareholder has consistently supported the business, investing nearly ￡200m in loss funding and salaries over the past four years, even as significant portions of the business remained inactive.

       "We recognise change is essential to set the business on a positive trajectory and provide certainty for our creditors, employees, and stakeholders.

       "We will utilise the time afforded by the adjournment to engage in intensive discussions with a view to achieving an outcome which best serves the strategic interests of the UK, the South Yorkshire community, and the broader UK steel sector."