Liberty Steel to 'fix or sell' underperformers in post-Greensill restructuring

摘要

London—Liberty Steel, part of industrial group GFG Alliance, said May 5 it will “fix or sell underperforming units” in a restructuring and refinancing drive as it recovers from the March collapse of Greensill Capital, its biggest financier. Liberty Steel has appointed four new directors to its board to form a Restructuring & Transformation Committee (RTC) , it said in a statement. The RTC will have “full autonomy to restructure Liberty’s operations to focus on core profitable units, and either fix or sell underperforming units,” in a move to “lead and accelerate the restructuring and refinancing of Liberty in order to protect and maximize creditor and stakeholder value,” the company said.