A general view shows the British Steel works in Scunthorpe, Britain, May 21, 2019. REUTERS/Scott Heppell

LONDON (Reuters) - British Steel will be placed into administration as early as Wednesday, Sky News’s Mark Kleinman said.

Administrators from EY are in court this morning to finalize an insolvency process, Sky said.

A 30 million pound loan from the government was not agreed, Sky said.