British Steel Case Study : What is Compulsory Liquidation in the United Kingdom?


British Steel was created in 1967 as a nationalised company and was established as part of the Iron and Steel Act 1967, largely in response to the huge demand for steel following the Industrial Revolution.



The company was later privatised in the 1980s and has since undergone major changes over the years, particularly in the 1990s when the demand for steel dropped. By 1999, the company merged with Koninklijke Hoogovens, forming Corus and in 2007, it was bought out by Tata Steel. By 2016, Greybull Capital purchased Tata Steel’s European business, including British Steel, and went on to buy FN Steel.


However, just three years later in May 2019, it was announced that British Steel had been placed into compulsory liquidation following failed talks for emergency funding from the UK government.

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Location: United Kingdom

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