Thamesteel

Type
Bankruptcy
Country
United Kingdom
Region
South East (England); Kent;
Location of affected unit(s)
Sector
Manufacturing
(24 - 25) Manufacture of metals
24.5 - Casting of metals
24.52 - Casting of steel
350 jobs
Number of planned job losses
Job loss
Announcement Date
27 January 2012
Employment effect (start)
Foreseen end date
27 January 2012

Description

Steel mill Thamesteel has announced that it is to make around 350 workers redundant after the firm went into administration. The firm was one of the largest employers on the Isle of Sheppey, with a workforce of 400.

Administrators announced that 50 workers would be retained to keep the plant in working order while they sought a buyer.

Sources

  • 27 January 2012: BBC Website

Citation

Eurofound (2012), Thamesteel, Bankruptcy in United Kingdom, factsheet number 73028, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73028.