Government moves to nationalise Speciality Steel UK to protect 1,300 jobs
The UK government announced plans to take control of Speciality Steel UK, aiming to preserve 1,300 jobs after the company entered administration last year. The firm, previously linked to Sanjeev Gupta’s business empire, failed to attract a buyer, prompting the nationalisation move to secure the workforce and stabilize operations. Officials said the intervention would involve ownership and may set a precedent for future industrial rescues.