UK metals tycoon Sanjeev Gupta has hired a trio of financing and restructuring advisers to help his GFG Alliance group of companies negotiate with its main creditor, Greensill Capital, and raise fresh funding, according to people familiar with the matter.

Gupta is currently negotiating a so-called standstill agreement with Greensill to give his companies breathing space over payments on billions of dollars of debt, some of the people said. He also is trying to tap investors and banks for investment, one of the people added.