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Blaming Brexit, British Steel collapses putting nearly 25,000 jobs at risk

From edition.cnn.com

{video} Britain's second biggest steel maker collapsed on Wednesday, putting 4,500 jobs at the company at risk, and threatening another 20,000 at suppliers. The company was seeking a government bailout, but talks ended without agreement. The High Court ordered the company into compulsory liquidation, according to the government's Insolvency Service. British Steel was reportedly seeking a government loan of £75 million ($95 million) to cover losses it said it suffered because European orders had evaporated due to the uncertainty surrounding Brexit. "Many of the challenges we face are not unique to the steel ... (full story)

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  • Category: Fundamental Analysis