Business
Gupta seeks $307m lifeline from British government – The Australian Financial Review
British officials are reportedly hesitant to act unless Sanjeev Gupta’s GFG Alliance goes into administration, but the company insists it will pull through.
We are in close contact with the South Australian government, and are in regular conversation with GFG, including directly with owner Sanjeev Gupta, Ms Andrews said.
GFG reportedly wrote to the British government on Thursday night (Friday AEDT) saying the cash injection was required for working capital something in short supply since Greensill filed for insolvency on March 8 and to fund operating losses.
Sanjeev Guptas GFG Alliance says most of its businesses are cashflow positive. Bloomberg
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