Liberty Steel customer enters administration

Aartee Bright Bar, a major customer to Liberty Steel, as entered administration.  Based in the West Midlands, the business – which employs 250 people – has appointed partners from Alvarez & Marsal to manage the administration. In a statement, one of the firm’s joint administrators Michael Magnay said: “Like many businesses in its sector, Aartee Bright Bar has been facing significant headwinds as a result of the challenging economic environment and fluctuating steel prices. 

“Against this backdrop, administrators have been appointed and we are exploring the options available to preserve value.” 

Responding to the news, Alun Davies – national officer at steelworkers’ union Community – said: “The news of Aartee Bright Bar crashing into administration is extremely worrying. All parties must do whatever it takes to protect the workforce in this difficult process.

“These developments demonstrate the extreme pressures the industry is under. This is the price of the government’s negligence and its failure to act on issues like energy costs and procurement.”