According to the Guardian, British Steel is estimated to be suffering losses in the region of £30 million ($36 million) per month.
Earlier in the year, British Steel again announced plans to lay off up to 260 workers in the UK due to increasing energy costs.
It also announced plans to close coke ovens at its Scunthorpe plant to help the group "build a green and sustainable future".
The UK government has emphasised its "clear commitment to the UK steel sector", highlighting increased funding for Tata Steel to facilitate greener steel production at its Port Talbot plant in south Wales.
The 2,000 redundancies have not been confirmed by the Sunday Times.
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