Alvance British Aluminium at risk of closure
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Update time : 2022-08-19 21:25:52
According to the latest unaudited accounts of Alvance British Aluminium, the last aluminum smelter in the UK, the company had a loss of £4 million in the previous year. Besides, as accounts were unaudited for sixteen months, a lot of uncertainty was therefore caused.
Sanjeev Gupta, the owner of Alvance British Aluminium, had said material uncertainties exist that cast serious doubt on the company's ability to continue the business, and the outlook for the company's Lochaber aluminum smelter was gloomy.
Scottish Liberal Democrat leader Willie Rennie approached Scotland's finance secretary, asking the Scottish government to explain what financial guarantee will they provide in case of a closure of the Lochaber aluminum smelter or its auction by the Sanjeev Gupta.
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