London | Sanjeev Gupta’s GFG Alliance is working on plans to raise new loans against parts of the group outside the UK, and on generating cash from an expedited sale of goods, as the metals tycoon battles to save his empire.

The group is taking the measures to shore up its finances while it continues to look for alternative long-term funding after the collapse of its main lender. Greensill Capital filed for insolvency this month, forcing GFG, which has $US20 billion ($26 billion) in turnover and employs 35,000 people across four continents, to scramble for funding.

Financial Times