"We have a fantastic workforce here in Scunthorpe producing some of the best steel in the world; 4,000 high skilled jobs are at stake here".
It follows reports the company needs a loan of up to £75m to keep trading in the coming months.
Nic Dakin, Labour MP for Scunthorpe where British Steel's main plant operates, told City A.M. the firm's problems have been "created by the mess the government is making of the Brexit process". It now employs 4500 people directly and up to 20000 indirectly through its supply chain.
The news comes a fortnight after British Steel secured a £100 million emergency government loan to ensure that it avoided a steep fine from Brussels and paid an European Union carbon bill on time.
The Department of Business, Energy and Industrial Strategy said it could not comment on speculation about its role in any rescue talks.
Keen to stress that it's not just British Steel in dire need, but other companies too, the steelmaker, which employs around 4,500 directly and another 20,000 indirectly, has stated that "uncertainties around Brexit are posing challenges for all businesses including British Steel".
According to Sky News, British Steel is seeking a further £75m loan from the government, with insolvency experts placed on standby in case further funds can not be secured.
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