Liberty Speciality Steel placed into administration under UK government

Liberty Speciality Steel, a key supplier of advanced steel products in the UK, has entered administration following a High Court winding-up petition. The company, which employs approximately 1,450 staff, will now be overseen by special managers acting under the UK Government’s Official Receiver.

The business, based in South Yorkshire, is known for its role in producing critical grades of steel for high-specification applications across aerospace, defence, rail and energy. Its output is used in military aircraft, aircraft carriers, landing gear systems, and components for the oil and gas and power generation sectors.

Industry voices have underlined the strategic value of the company’s production capabilities. Gareth Stace, Director General of UK Steel, emphasised the national importance of the plant:

“UK Steel welcomes the Government’s recognition of the importance of the Liberty Speciality Steel assets and hopes that a new owner is found quickly and can inject the investment and working capital required to return production volumes to previous levels.”

Stace noted that the company’s reduced output in recent years had created gaps in the domestic supply chain, often filled by imports. He called for targeted policy support to restore competitiveness:

“The Government must continue to push on trade defence and reducing the burden of energy costs so that the Speciality Steels business, and the rest of the UK steel ecosystem, is sustainable.”

The administration process now opens the door for potential buyers, with stakeholders hoping that continuity of operations and jobs can be secured while long-term industrial capacity is preserved.

Source: UK Steel, Photo: Fotolia