Table of Contents
Titanic shipmaker Harland & Wolff has fallen into bankruptcy for the second time in five years, putting 66 jobs at risk.
The Belfast-based company warned that such a move was imminent after a review found its holding company, Harland & Wolff Group, was insolvent.
Harland & Wolff is best known for building the ill-fated Titanic in Belfast and also runs the historic Appledore shipyard in Devon and two more sites in Scotland.
The 163-year-old company has been scrambling for cash in recent months as it struggles to keep up with its competitors and address its debts.
The group said it appointed Gavin Park and Matt Cowlishaw of Teneo Financial Advisory Limited as joint administrators.
Uncertain times: Harland & Wolff is best known for building the ill-fated Titanic in Belfast
It warned that jobs would be lost but did not reveal how many of its 66 employees would be affected.
The insolvency process does not include subsidiaries in Northern Ireland, Scotland or Devon.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
interactive inverter
interactive inverter
Fixed fee investing from £4.99 per month
sax
sax
Get £200 back in trading fees
Trade 212
Trade 212
Free trading and no account commission
Affiliate links: If you purchase a This is Money product you may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.
