Economic Challenges Mount For UK Steel ...Middle East

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Economic Challenges Mount For UK Steel
source : OILPRICE ( Middle East ) () 19
Via AG Metal Miner   Steel news continues to cover the announcement that UK steel producer and distributor Aartee Bright Bar (ABB) has gone into administration. The move came after ABB’s commercial financier, FGI, decided to enforce its debts against the company. According to a February 7 report from Sky News, the West Midlands-based business appointed New York-headquartered Alvarez & Marsal as administrators. Administration in the United Kingdom is similar to Chapter 11 of the United States Bankruptcy Code. It generally occurs whenever…

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