The case is the latest in a series of bad headlines for the British government as businesses face up to the difficulties of an unresolved Brexit | Christopher Furlong/EPA via Getty Images British Steel faces €110M Brexit bill The EU suspended the company’s free carbon permits as part of Brexit no-deal contingency planning.

British Steel could be among the first businesses to take a major financial hit because of Brexit: about €110 million in case of a Brexit no-deal, according to Bloomberg.

In the absence of a Brexit deal, British Steel must buy around 6 million tons of carbon on the open market, at a cost of around €110 million by March 15, Bloomberg's sources said.

The steelmaker had access to free carbon permits under the EU Emissions Trading System, but the EU decided in December 2018 to suspend the permits as part of no-deal Brexit contingency planning.

The case is the latest in a series of bad headlines for the British government as businesses face up to the difficulties of an unresolved Brexit.

Japanese carmarker Honda recently announced the closure of its plant in Swindon threatening 7,000 jobs. The company said the decision was not Brexit-related but the claim has been reportedly put in doubt by company's officials. The airline Flybmi filed for administration last week blaming “uncertainty created by the Brexit process.” It had a total of 376 employees based in the U.K., Germany, Sweden and Belgium. Rival airline Flybe was last month rescued by a consortium led by Virgin Atlantic.

British Steel downplayed fears, saying it's ready to cope with any scenario.

“We have robust plans in place to deal with the various Brexit scenarios including the change in carbon credit regime,” British Steel Chief Financial Officer Gerald Reichmann said in an email to Bloomberg.

Yet the Brexit uncertainty is a potential cost for the sector.

"Whether we’re still in the scheme or not in the scheme at the end of March does create significant uncertainty with potentially major cost impacts for companies in the industry," Gareth Stace, director general of U.K. Steel, the industry’s main lobby group, is quoted as saying.