UK's third-largest steelworks collapses into government control

The UK's third-largest steelworks, Liberty Steel, has collapsed into government control, putting hundreds of jobs at risk. The company, which operates plants in Rotherham and Sheffield, has struggled with financial difficulties and has been unable to secure a rescue deal. The collapse of Liberty Steel is a significant blow to the UK's steel industry, which has faced numerous challenges in recent years, including overcapacity, cheap imports, and the impact of the COVID-19 pandemic. The government has stepped in to take control of the company, but the future of the plants and their workers remains uncertain. The news has sparked concerns about the broader impact on the regional economy, as the steel industry has been a vital employer in the area for decades. The government has vowed to work with the industry to find a sustainable solution, but the challenges facing the sector are significant and will require a coordinated effort from policymakers, industry leaders, and workers.