 Fears of collapse mounted as talks stalled, but days later, the immediate crisis was averted by stop-gap funds from existing lenders.On 22 May 2019 British Steel entered insolvency after the government refused a £30m loan, saying the non-commercial terms its private equity owner Greybull Capital were asking amounted to unlawful state aid.The insolvency put 5,000 British Steel jobs at risk, and many thousands in the company's supply chain.