Sahaviriya Steel Industries UK (SSI), the UK-based subsidiary of Thai steelmaker Sahaviriya Steel Industries Public Company Limited, has announced that it has been asked to prepare its business rehabilitation plan for approval from the Central Bankruptcy Court of Thailand after it submitted a petition for business rehabilitation on October 1, 2015.
In September last year, SSI suspended production operations at its Redcar plant located in Teesside, northern England, amid the impact of declining steel prices. Accordingly, 2,200 jobs were lost.