Liberty Ostrava is being sold off as part of insolvency proceedings that began last year. A creditors committee has signed off on the sale, which will be carried out through two rounds of bidding. 

“We would ideally like to have the winner of the tender selected by the end of May,” said insolvency administrator Simon Petak, who added that it is possible to complete a sale by the end of the year. 

Owned by British-based Liberty Steel, the mill entered insolvency after closing most of its production after an energy provider stopped supplying the plant over missing payments.

“The positive aspect is that the company is now in a significantly better state than when we took over. At that time, production had been suspended, the plant had no inventory, and there was a high risk of losing skilled employees, without whom it would no longer be possible to resume operations,” Petak said.