Preferred bidder chosen for South Yorkshire-based Speciality Steels
The Official Receiver has confirmed an unnamed potential new owner has been chosen to take over the UK's third largest producer
Last updated 15th Apr 2026
A 'preferred bidder' has been chosen to take over the collapsed South Yorkshire steelmaker Speciality Steels UK.
The company, which was the third biggest steel manufacturer in the UK, went into insolvency last year and is currently being held by the Official Receiver.
SSUK employs well over 1,000 people but was deemed 'hopelessly insolvent' by a judge last summer, before being placed into compulsory liquidation.
The Official Receiver has now confirmed a company or group has been chosen to put together a detailed bid for a takeover, though it hasn't named the firm involved.
The process is expected to take around five weeks - employees have been told.
Charlotte Brumpton-Childs, GMB National Secretary, said:
"This is welcome news and we look forward to engaging with the interested parties on behalf of our members.
"Any sale of SSUK must include due diligence which guarantees ongoing operations and stability of the sites.
"GMB members have been at the sharp end of years of uncertainty at this point - his needs to be a deal that secures the long-term future steelmaking in South Yorkshire."