News: Preferred bidder for former Liberty steelworks in Rotherham
A sale is moving closer for Speciality Steel UK (SSUK), with the official receiver confirming a preferred bidder for the company.
Last August, a judge approved an application from creditors to place SSUK, previously part of Liberty Steel and GFG Alliance, into compulsory liquidation. Teneo Financial Advisory Limited have been brought in as Special Managers whilst a formal sale process takes place.
The government has committed £50m to date to keep the sites in Rotherham and Stocksbridge open whilst the bidding process takes place. Multiple companies came forward with the government confident a buyer can be found.
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An update from the official receiver on what it calls "a major step towards a sale," states: "A period of exclusivity has been agreed with a preferred bidder, marking the next stage of a future sale agreement.
"This is expected to last approximately five weeks, during which the preferred bidder will progress their bid.
"SSUK was wound up in August 2025, with the Official Receiver administering the liquidation, including activity at the steelworks.
"Employees have been informed.
"The Official Receiver will look to complete the sale at the earliest opportunity."
The Times reported in January on a shortlist of bidders obtained from "sources familiar with the situation."
Five potential new owners were listed by the paper including: 7 Steel; Aperam; Arabian Gulf Steel Industries; EIG Global Trust; and Evore Steel.
Sky News reported in February that Blastr was another name on the shortlist.
Thr Financial Times is reporting that Blastr is the preferred bidder.
Charlotte Brumpton-Childs, GMB National Secretary, said: "This is welcome news and we look forward to engaging with the interested parties on behalf of our members.
"Any sale of SSUK must include due diligence which guarantees ongoing operations and stability of the sites.
"GMB members have been at the sharp end of years of uncertainty at this point - his needs to be a deal that secures the long-term future steelmaking in South Yorkshire."
Images: Google Maps
Last August, a judge approved an application from creditors to place SSUK, previously part of Liberty Steel and GFG Alliance, into compulsory liquidation. Teneo Financial Advisory Limited have been brought in as Special Managers whilst a formal sale process takes place.
The government has committed £50m to date to keep the sites in Rotherham and Stocksbridge open whilst the bidding process takes place. Multiple companies came forward with the government confident a buyer can be found.
Advertisement
An update from the official receiver on what it calls "a major step towards a sale," states: "A period of exclusivity has been agreed with a preferred bidder, marking the next stage of a future sale agreement.
"This is expected to last approximately five weeks, during which the preferred bidder will progress their bid.
"SSUK was wound up in August 2025, with the Official Receiver administering the liquidation, including activity at the steelworks.
"Employees have been informed.
"The Official Receiver will look to complete the sale at the earliest opportunity."
The Times reported in January on a shortlist of bidders obtained from "sources familiar with the situation."
Five potential new owners were listed by the paper including: 7 Steel; Aperam; Arabian Gulf Steel Industries; EIG Global Trust; and Evore Steel.
Sky News reported in February that Blastr was another name on the shortlist.
Thr Financial Times is reporting that Blastr is the preferred bidder.
Charlotte Brumpton-Childs, GMB National Secretary, said: "This is welcome news and we look forward to engaging with the interested parties on behalf of our members.
"Any sale of SSUK must include due diligence which guarantees ongoing operations and stability of the sites.
"GMB members have been at the sharp end of years of uncertainty at this point - his needs to be a deal that secures the long-term future steelmaking in South Yorkshire."
Images: Google Maps
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