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| Version 0 | Version 1 |
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| British Steel receives 80 offers of interest | British Steel receives 80 offers of interest |
| (about 1 hour later) | |
| Government officials say they are making "good progress" in finding potential buyers for British Steel which collapsed last week. | Government officials say they are making "good progress" in finding potential buyers for British Steel which collapsed last week. |
| The Official Receiver said it had made contact with more than 80 potential purchasers, 60 of whom have been sent non-disclosure agreements (NDAs). | The Official Receiver said it had made contact with more than 80 potential purchasers, 60 of whom have been sent non-disclosure agreements (NDAs). |
| NDAs give bidders access to information that helps them prepare offers. | NDAs give bidders access to information that helps them prepare offers. |
| "Expressions of interest are due with me by early June," the Official Receiver said in a statement. | "Expressions of interest are due with me by early June," the Official Receiver said in a statement. |
| "The indemnity provided to me [by the government] has enabled British Steel to continue to trade and the company retains good support from its customers. | "The indemnity provided to me [by the government] has enabled British Steel to continue to trade and the company retains good support from its customers. |
| "I would like to thank the workforce for their ongoing support. All staff have been retained and continue to be paid." | "I would like to thank the workforce for their ongoing support. All staff have been retained and continue to be paid." |
| British Steel was placed into compulsory liquidation on 22 May, putting 5,000 jobs at risk and endangering 20,000 in the supply chain. | British Steel was placed into compulsory liquidation on 22 May, putting 5,000 jobs at risk and endangering 20,000 in the supply chain. |
| It followed a breakdown in rescue talks between the government and the company's owner, Greybull Capital. | It followed a breakdown in rescue talks between the government and the company's owner, Greybull Capital. |
| For now, the government is covering the firm's wage bill. | For now, the government is covering the firm's wage bill. |
| But if the Official Receiver fails to find a buyer, British Steel could be wound up and redundancies would follow. | But if the Official Receiver fails to find a buyer, British Steel could be wound up and redundancies would follow. |
| Slump in orders | Slump in orders |
| Greybull Capital bought the business for £1 from Tata during depths of the 2016 steel crisis, going on to rebrand it as British Steel. | Greybull Capital bought the business for £1 from Tata during depths of the 2016 steel crisis, going on to rebrand it as British Steel. |
| The private equity firm hoped to turn around the business, which employs most of its staff at plants in Scunthorpe and Teesside, but has more recently run into trouble. | |
| British Steel has been hit by a slump in orders from European customers due to uncertainty over the Brexit process. | British Steel has been hit by a slump in orders from European customers due to uncertainty over the Brexit process. |
| It has has also struggled with the weakness of the pound since the EU referendum in June 2016 and the escalating US-China trade war. | It has has also struggled with the weakness of the pound since the EU referendum in June 2016 and the escalating US-China trade war. |