WHEN a family firm in Thailand rescued Redcar steelworks five years ago it was a fairytale ending to the region’s Save Our Steel campaign.

But it has become increasingly grim tale as mounting cashflow problems threaten the plant which employs 2,000 steelworkers and supports thousands more local jobs.

SSI UK has produced more than nine million tonnes of steel since production restarted a week after Easter Sunday 2012, but the plummeting price of steel slab means it has struggled to make a profit. This month’s results are expected to show more hefty losses.

The plant’s importance to regional pride is incalculable. Which is why The Northern Echo has been a staunch supporter of SSI even when it became clear the plant was struggling to make ends meet. Today we have revived the Save Our Steel Campaign to show our continued support for SSI and for regional steel firm Tata which has its own problems.

The patience of the firm’s suppliers is to be applauded too. I cannot think of any other business that could depend upon such goodwill. SSI’s financial backers and suppliers are owed millions, but they have been united in the belief that everything must be done to support the region’s last remaining steel plant. But this cannot go on forever. At some point the Redcar works must show a profit.

The Thai firm refused to answer any questions yesterday, never a good sign, and a risky strategy as their lack of words leaves a void where rumour and conjecture can thrive.

Let’s stick to the facts. Tomorrow morning an emergency debate will be held in the Commons where MPs will urge the Government to protect SSI and other UK steel producers from the threat of cheap foreign imports. Measures such as tax breaks might help in the long term, but the support SSI needs is more pressing. In short, it needs a massive cash injection, or time to pay its debts.

I spoke yesterday to Anna Turley, the Labour MP who will lead tomorrow’s debate. She believes steel minister Anna Soubry has a good grasp of SSI’s woes and is asking the Treasury for help. But the prospect of a Tory government bailing out a North-East industry with taxpayers’ cash sounds unlikely. I hope I am wrong but I predict the same ministers who voice support for a 'Northern Powerhouse' will turn their back on one of our region’s heavyweight employers when push comes to shove.

I hope SSI can find a way through this crisis. It has weathered dozens of storms over the last few years and is still here against all of the odds.

Let’s hope there is one more dramatic plot twist to bring about a happy ending.