Company put into official receivership after talks with government over £30m rescue package break down. / British Steel has collapsed, putting more than 4,000 jobs directly at risk and threatening a further 20,000 in the company’s supply chain.

British Steel is on the verge of administration within 48 hours unless a £30m rescue deal can be agreed with the government. If additional funding cannot be secured 4,000 British Steel jobs would be put at risk along with a further 20,000 in its supply chain.

British Steel has said it is seeking further financial support from the government to help it address "Brexit-related issues".

British Steel won approval from a French court to buy the Ascoval steel mill in northern France, in a deal that should help save jobs at the site and allow British Steel to expand in Europe as Brexit concerns weigh on its domestic market.