Reports that Toshiba is considering liquidating NuGen have hit the international headlines.

Reuters is reporting that "two people with direct knowledge" told the news agency talks to sell NuGen have dragged on for "too long".

They told Reuters: "Toshiba is eager to shut off potential risks associated with NuGen soon."

NuGen is behind plans for the £15 billion Moorside nuclear plant, on land next to Sellafield.

It has been known for months that the future of Moorside is hanging in the balance as Toshiba has been looking to offload NuGen to a new investor by the end of the financial year.

Korean state-owned utility Kepco and Canadian-headquartered asset management company Brookfield are in the frame to take ownership of the company.

Almost 70 jobs were axed at the company in September.

NuGen confirmed that its team of around 100 staff and contractors will reduce to 32 following a comprehensive review sparked by delays to a deal between Toshiba and Kepco.

At the time, NuGen said it was retaining only a core team of staff to help Toshiba push through its sale.

Speaking in response to the reports this week, a NuGen spokesman said: "For the last 18 months, NuGen has been the subject of a sale process by its shareholder Toshiba, which with NuGen’s support has engaged with a range of potential purchasers with significant focus on Kepco.

"This process has been complex and frustrating, but it has served to reinforce to the NuGen team, the importance of the project going ahead.

"After a recent restructure, NuGen as a smaller company is continuing its focus on securing a sustainable way forward for the project and identifying the right partners to aid delivery at Moorside and support the future of this project, which is so vital to Cumbria and the UK.

"There is a limited window of time, and the wind-up of NuGen, and the Moorside Project remains a very real prospect with Toshiba indicating clearly its intention to withdraw from the project by the end of the financial year.

"Everything is being done by the teams at NuGen and Toshiba to minimise that prospect, to enable Toshiba to achieve a clean exit, and to enable NuGen and the Moorside Project to continue."