British Prime Minister Theresa May said the government was negotiating with various stakeholders to save the United Kingdom's second-biggest steel producer, British Steel, during a Prime Minister's Questions session in the House of Commons in London on Wednesday.
"We recognize that this is a worrying time for the thousands of dedicated British steel workers and their families," May said. "The government has been working tirelessly with the company, with its owner, Greybull Capital, and lenders to explore all potential options to secure a solution for the company."
"We will be working with the company and other, and the official receiver in the days and weeks ahead to ensure that we can pursue every step to secure the future of the operations at Scunthorpe, Skinningrove and on Teesside," she added. "There are no job losses at this time and the official receiver has already said staff will continue to be paid and employed."
Scunthorpe MP Nic Dakin asked May whether she would meet with MPs cross-party whose constituencies are affected by the matter, to which she responded affirmatively.
"I will certainly meet with him and a group of MPs to consider this issue. This is about one company owned by Greybull Capital, but obviously we have taken steps in the past to ensure that we continue to have a steel industry in the United Kingdom and we will want to look at that wider issue," said May.
The jobs of 5,000 British Steel workers are reportedly at stake, as well as 20,000 more in the supply chain, as British Steel has been trying to secure an investment of £75 million (€85 million, $95 million) to help it address "Brexit-related issues."
Labour Party leader Jeremy Corbyn urged the government to nationalise the company on Tuesday.