The Daily Mail said the sale of British Steel will be delayed further. An email sent on behalf of Sam Woodward of the restructuring team said, “I can confirm that we have not set a deadline for completing the sale process. You noticed that various parties were present at the site last week for due diligence, and you should take care of that. However, I also expect that it will take several more weeks for further due diligence and negotiations to close the deal. "
British Steel, bought by private equity firm Greybull Capital in 2016, went bankrupt in May as it survived a funding crisis that put about 5,000 jobs at risk. The Insolvency Service appointed liquidators to find a buyer, while the company was supported by the government. It was originally reported that the deadline for applications is June 12th. The decision was pushed back to the end of last month, then it was reported that the final proposals were due to arrive last Monday.
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