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Liberty Steel Dudelange has been out of business for just over a week and the financial model was questioned from early on.
Critics note that the acquisition of the Dudelange plant by Liberty House Group was under poor conditions from the outset. As early as 2019, the trade unions and the EU Commission had doubts about Sanjeev Gupta's Liberty House Group's financial model.
However, the acquisition of Ilva also went wrong (the move that started the whole operation) - not only because Ilva is the largest steel mill in Europe, but also a notoriously dirty one, so bad in fact that the mill was taken to court for human rights violations. The other sites that Liberty House Group took over from ArcelorMittal in 2019 were also flagged to have problems or went bankrupt.
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