Member

This decision has not been taken lightly. For over a year, we have funded the official receiver process, while working constructively on efforts to secure a private buyer. We took a long, hard look at the offer that was on the table, but the truth is that we had serious concerns about the proposed financing of it, the protections for UK taxpayers, and whether it could offer long-term stability for the local economy and community. Having concluded that we cannot support the preferred bidder’s proposal, we are faced with a choice: we can allow events to take their course through the liquidation process, and risk being left with no say in the future of the sites, or we can act. This Government choose to act.