A blow to Britain’s steel industry as engineer behind Wembley Stadium and Shard skyscraper breaks down
An engineering group in Darlington has collapsed in administration, another blow to the steel industry.
About 220 jobs are at stake at Cleveland Bridge, which helped build London’s Shard skyscraper, the Wembley Stadium arch and Sydney Harbor Bridge.
Clearly, the engineer’s finances ran into trouble when a major bridge construction project in Sri Lanka was suspended due to Covid.
About 220 jobs are at stake at Cleveland Bridge, which helped build London’s Shard skyscraper (pictured), Wembley Stadium arch and Sydney Harbor Bridge
Founded in 1877, Cleveland Bridge was in talks with its owner, the Saudi Arabian Al-Rushaid Group, to raise an additional £6 million, but this was unsuccessful.
Martin Puller, a partner at FRP Advisory, Cleveland’s trustees, said the company “has been a standard-bearer for advanced British engineering for over a century.”
The British steel industry has been struggling for years, but Covid has put companies under even more pressure.
British Steel went bankrupt in 2019 and Sanjeev Gupta’s Liberty Steel is fighting for survival after its main lender Greensill Capital failed.