The Daily Telegraph - Business

Liberty Steel finance chief admits parts of business are ‘challenged’

- By Daily Telegraph Reporter

THE UK finance boss of Liberty Steel has admitted some of the group’s larger businesses are “challenged”, but said some of the smaller ones are profitable.

Anton Krull, chief financial officer at Liberty Steel UK, said parts of the business are struggling. The company has faced questions over its future following the collapse of Greensill Capital, a major lender to the GFG Alliance, of which Liberty is a part. GFG is trying to refinance some of the loans it received.

“I would say probably the larger businesses are challenged, and some of the smaller businesses are operating reasonably profitably,” Mr Krull told

MPs on the business, energy and industrial strategy committee.

The Serious Fraud Office opened an inquiry last month into GFG and its financing arrangemen­ts with Greensill.

Mr Krull also told MPs he had not dealt with an outfit called King & King, which has audited many of the GFG Alliance companies.

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