Liberty Steel Pipe Business Faced with Winding-Up Petition by HMRC
Further, the spokesperson added that the company is in touch with HMRC to have the petition removed.
SEATTLE (Scrap Monster): According to reports, HM Revenue and Customs (HMRC) is pursuing a winding-up case against Liberty Pipes Hartlepool. The overdue VAT bill is the subject of the petition that was submitted on Tuesday. According to reports, the British tax authorities' petition has increased pressure on the faltering steel manufacturer.
A firm representative responded by stating that Liberty Pipes Hartlepool has no unpaid invoices to HMRC. The representative stated that there was no threat to the Hartlepool operations and that all of the company's debts to HMRC had been paid. The spokesman further stated that the business is contacting HMRC to have the petition dismissed.
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However, HMRC underlined that winding-up petitions are meant to safeguard public funds and are only filed when all other avenues have been exhausted.
GFG Alliance, of which Liberty Steel is a member, has been experiencing serious financial difficulties ever since Greensill Capital collapsed in 2021. The UK's Serious Fraud Office has been looking into the group ever since. If Liberty Steel is unable to get new funding, its UK operations could be shut down.
Liberty Pipes Hartlepool employs 178 people and can produce 250,000 tonnes of pipes annually.