Liberty Steel, which employs hundreds of staff in Rotherham and Stocksbridge, says the liquidation petitions have been withdrawn Yorkshire News

Liberty Steel Group’s Restructuring and Transformation Committee has reported on ongoing developments across the group.

After positive discussions with HMRC, the liquidation requests have been withdrawn. In parallel, constructive discussions continue with existing creditors to pay off liabilities and with new lenders on long-term refinancing of the business, Liberty Steel said.

Jeffrey Kabel, Director of Transformation, said: “We are pleased to report further good progress in our negotiations with creditors, including the UK’s HMRC. We promise to pay all

creditors and this is an important step in allowing us to restructure and achieve long-term refinancing.

“Our core international businesses have continued to generate strong returns and achieve record production levels despite the skyrocketing energy costs facing energy-intensive industries in the UK and Europe. We will continue to advance our efforts to refocus and refinance our long-term operations. -finished.”

In a statement, Liberty said: “Steelmaking at Rotherham and Stocksbridge has continued through the first quarter of the year following the infusion of shareholder funds which enabled operations to restart in October. A steelmaking campaign in February met planned production targets, and another has been underway in early March. Planning is progressing well for future campaigns.”