UK's 3rd largest steel producer Liberty Steel announced that it has decided to sell its steel production facility in Stockbridge.
In the statement made by Liberty Steel, which has been on the agenda with its financial problems recently, it was stated that it is planned to pay the receivables of one of the creditors with the income to be obtained from the sale of the plant.
the National Trade Union Coordinating Committee said that "Stockbridge and other affiliated facilities are of strategic importance for the country's defense, energy and aerospace sectors,".
As Liberty Steel's financial problems continue to increase, 5,000 jobs will be lost if all its production facilities are closed.
Liberty Steel owns 12 steelmaking facilities in the UK, mainly in Rotherham, Motherwell and Newport.
Liberty Steel's total debt to creditors in the UK alone stands at approximately $843 million.
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