As you are probably aware, last week British Steel was granted permission from the courts to enter into insolvency. The Government’s official receiver will now run the compulsory liquidation process.
AJN is deeply saddened that despite our support of British Steel it has entered into insolvency and our thoughts and best wishes go out to the many people who may be affected.
We understand that there may be concerns from customers born out of rumours and “fake news” generated by our competitors, who were unwilling, or unable, to support British Steel. We are proud to be a British company and we will always do what we can to support British Industry.
We therefore want to assure you that we have contingency plans in place to mitigate any impact this may have, in addition to working with British Steel to try to ensure there is a future in this country for them.
We have excellent current stocks of steel at both our Kentford and Henstridge sites with further large quantities of steel at the docks awaiting call off. There should be no disruption to orders that you currently placed with us. All current signs are that the Government will support British Steel in the short term to enable them to continue operations and allow them time to find a buyer. The government stated they would ‘leave no stone unturned’ in its support of the domestic steel industry.
AJN also has alternative established mills that we source steel from and have placed forward orders with said mills, to enable the continuation of stock flow and the reliability that you have come to expect from AJN, and spread any potential risk should British Steel no longer be able to trade.
We hope this has allayed any fears that you may have had regarding the impact on AJN and yourselves. Our aims are to continue to grow as a company and we assure you of our continued efforts to support you, our customers, and offer you the quality service you have become used to. Please understand that it is of paramount importance to us that our service to you is not affected and that we will always be honest with you.
We will keep you updated as the situation unfolds. However, if you have any further concerns or questions please do not hesitate to contact your Sales Account Manager or one of the Directors to discuss.
Alan & Neil Boyden
Owners and Co-Managing Directors
For and on behalf of AJN Steelstock Ltd