Liberty Steel, a significant steel manufacturer in the United Kingdom, is facing the potential closure of its plants located in Rotherham and Sheffield. This development comes as a court is scheduled to determine on Wednesday whether the company should be wound up. The company has communicated that it is actively working to sustain its speciality steel business and is currently engaged in discussions with its creditors to find a resolution to the financial challenges it faces. Liberty Steel has informed the BBC that these negotiations are ongoing. The outcome of the court's decision could have substantial implications for the steel industry in the region, as well as for the employees at the affected plants. Liberty Steel is part of the GFG Alliance, a global group of businesses involved in steel, aluminium, and renewable energy. The company has experienced financial difficulties in recent years, partly due to the collapse of its main lender, Greensill Capital, in 2021. The potential winding up of Liberty Steel could impact the supply chain and local economies dependent on the steel plants.