Liberty Steel boss says he owes billions of pounds to Greensill Capital

The owner of the UK’s third-largest steel producer, Liberty Steel, has said he owes many billions of pounds to embattled finance company Greensill Capital.

But Sanjeev Gupta has insisted that none of Liberty’s plants will close while he remains in charge. It employs 5,000 people in plants near Glasgow, in south Wales and South Yorkshire.

He denied reports that his company is on the brink of collapse, but said he is seeking urgent financial support.