The British steel accounts warn of “physical uncertainty” during his battles for survival

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Pritish Steel auditor warned that the company is facing “uncertainty in materials” and requires “additional funding in the future” if this is the case to survive, in an evaluation issued just days after its Chinese owner refused an offer of financial support from the UK government.

The work, which was announced last week plans for Close the fooming furnaces and stop the jobsA pre -tax loss of 231.2 million pounds in 2023 after suffering difficult trading conditions, including low steel prices and high energy costs, and recently illness at the Companes House.

Although this was less than the previous year, which included one time weakness, the losses lasted until 2024, according to the accounts.

The deposit also reveals that British Steel – which has the last two remaining ovens in the UK at its main location in Scunthorpe in Lincolnchy – was mainly funded by the debt facilities provided by the entities controlled by Jingye, and her Chinese father.

British Steel 735.7 million pounds of the debts owed at the end of December 2023 had a rise of 630.2 million pounds in the previous year, according to the accounts.

The auditor MHA warned that the company needs “more future financing from its mother company and the final group on the date of approval of these financial statements.”

Although Jingye showed its “intention to support the company”, the auditor said that there are no “legal binding agreements” to ensure more funding.

She added that Jingye in the United Kingdom Holding also did not issue audited financial statements for the year 2022 and 2023.

MHA said: “These matters indicate the existence of physical uncertainty that may make a big doubt about the company’s ability to continue as a continuous magnanimity,” MHA said.

British Steel said last week that it will start consultations on job losses, which exposes a risk between 2000 and 2700 jobs in Scunthorpe. The company employs about 3,500 people in the United Kingdom through three sites.

The decision came after Jenny He refused to offer 500 million pounds sterling UK ministers to help build two Electrical Electric ovens are carbon density density. The Chinese group was seeking Nearly one billion pounds in support For the project, which may cost about 2 billion pounds.

The unions have warned that British Steel operations may run out of raw materials for ovens early in June unless an agreement is possible with the ministers.

“Continuous financial losses … have worsened due to market conditions and definitions now” left it “there is no other choice” but to suggest the closure of melting ovens, “said the solid British on Monday. She added that the company remained “open to more dialogue” with the government.

Energy Minister Sarah Jones told the House of Commons last week that the government was considering all options, including nationalization.

The government considered that the steel industry is of strategic importance to the United Kingdom, and last year, 2.5 billion pounds to protect the future of the industry.

Business Secretary Jonathan Reynolds said last week that the government “will continue to work tirelessly to reach an agreement with the company’s owners to secure its future and protect taxpayers’ money.”

One of the adults of the political figures said that the government was considering using the civil emergency law to control the factory in the event of a genetic attempt to close the unilateral smelting furnaces.