Reported 22 days ago
Harland & Wolff, the historic shipbuilder known for constructing the Titanic, has declared insolvency after its bid for £200 million in government funding was rejected. The UK shipbuilder is preparing to enter administration, enabling it to restructure its finances while continuing to operate its core shipyard in Belfast, which is currently working on warships for the UK government. The company's interim director acknowledged the difficult situation stemming from significant historical losses, emphasizing the need for urgent decisions to preserve the future of its facilities.
Source: YAHOO