One of the major backers of the Whyalla steelworks in country South Australia has filed for insolvency.
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The move by Greensill Capital in turn affects the fortunes of Sanjeev Gupta’s GFG Alliance, which runs both the plant and a business reaching across every state and territory.

While GFG Alliance’s Australian arm is reporting robust sales and cash flows, it has not quelled fears of a Whyalla wipeout.

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