Liberty Steel stays in dialogue with all its creditors, including HMRC
The Lochaber Times understands there is no current threat to the Lochaber smelter's operations from recent moves by UK tax authorities which have filed winding up petitions for several steel businesses owned by smelter parent company GFG Alliance.
According to reports from multiple sources, HM Revenue & Customs (HMRC) recently filed winding up petitions for parts of GFG's Liberty Steel division.
Tycoon Sanjeev Gupta's GFG Alliance metals empire has endured a year of struggles after the collapse of its main lender, Greensill Capital.
The smelter, on the outskirts of Fort William is part of GFG's Alvance British Aluminium set-up.
Asked to comment if there were any implications for the smelter from the HMRC actions, GFG forwarded the following wider statement from a Liberty Steel spokesperson which said: ‘Our priority has been to protect thousands of jobs in the UK. We are committed to repaying
Alvance’s Lochaber smelter.
all our creditors and continue to work with all stakeholders around the UK to create a sustainable future for our businesses following the collapse of Greensill Capital.
‘Against a very challenging backdrop in the UK with record high energy prices and imports, we have provided tens of millions in funding to keep our people in employment and maintain operations to serve customers and strategic supply chains while we complete our refinancing. We are in continuous dialogue with all our creditors including HMRC to find an amicable solution that is in the best interest of all stakeholders. Short term actions that risk destabilising these efforts are not in anyone's interest and undermine creditor recovery at a critical stage in our debt restructuring efforts that seek to secure the future of our businesses.'