This could be interesting

Suppliers to the steel tycoon Sanjeev Gupta’s rapidly growing empire have warned they are struggling to get credit insurance and are owed substantial sums.

Five companies that supply goods and services to parts of the Gupta Family Group (GFG) Alliance’s British operations told The Sunday Times they were struggling to secure payment from the steel, commodities and energy conglomerate.

He’s been spending a fortune in borrowed money buying up marginal metals assets. Credit insurers refusing to insure is the first sign that it’s not working.

3 comments on “This could be interesting

  1. Perhaps suppliers should stop lending the company money then.
    If it cannot borrow money from its suppliers and it goes under then its not worth propping up with lending by suppliers.

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