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Winding-up Petitions filed against Tycoon, Sanjeev Gupta’s UK steel empire, by HMRC

10th February, 2022
Robert Moore

Written ByRobert Moore

Marketing Manager


Rob has over a decade of experience in web and general marketing. He has extensive knowledge of the Insolvency sector and has helped many worried directors with their questions.

Rob is now working with the Board at KSA Group Ltd to develop strategic marketing programmes to support the business plan and drive more company rescues.

Robert Moore

In the latest news today, Sky has reported that HMRC have filed a winding-up petition against Sanjeev Gupta’s Liberty Steel empire.

The Financial Times share that a total of four firms from his empire have petitions against them; Speciality Steel UK Limited, Liberty Pipes, Liberty Performance Steels and Liberty Merchant Bar.

The newspaper said the four companies owe HM Revenue & Customs (HMRC) £26.4m.

This may well force an arm of the UK steel empire into insolvency. It is not known how much debt is owed to HMRC, from Mr Gupta’s firm.

Of course, this triggers doubt and uncertainty for the business, which planned to employ approximately 2,000 people going forward. Nonetheless, worries for employees within the firm.

The petition will be heard late next month.

Sky News report more on the subject.

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