Steel tycoon Gupta in last-ditch bid to rescue UK empire

News Snapshot:

The steel tycoon Sanjeev Gupta is mounting a last-ditch bid to salvage his British operations after seeing an emergency plea for government support rejected. Sky News has learnt that Mr Gupta's Liberty Speciality Steels UK (SSUK) arm is seeking to adjourn a winding-up petition scheduled to be heard in court on Wednesday. The petition is reported to have been brought by Harsco Metals Group, a supplier of materials and labour to SSUK, and is said to be supported by other trade creditors. Unless the adjournment is granted, Mr Gupta faces the prospect of seeing SSUK forced into compulsory liquidation. That...