French government under pressure to save jobs in British SteelChristian Fernsby ▼ | May 24, 2019
AFP reported that French officials are under pressure to save the jobs of hundreds of French steel workers at factories facing an uncertain future after the collapse of British Steel, whose assets will be sold to pay off its debt load.
France British Steel liquidation
Scunthorpe's closure would lead to the closure of Hayange and of FNSteel in the Netherlands, pure and simple”
The firm's failure also jeopardises the futures of some 270 workers at the Ascoval factory in Saint-Saulve, northern France, which British Steel pledged to rescue from imminent bankruptcy just a few weeks ago.
Prime Minister Edouard Philippe said that the game isn't over.
He said "I'm being very cautious about this, but I'm fairly optimistic. I think we can do this.”
The French government provided a EUR 15 million loan for Ascoval and British Steel had provided EUR 5 million, while promising an additional EUR 40 million shareholder loan. ■