British Shipbuilder Harland & Wolff Appoints Administrators

(Reuters) – British shipbuilder Harland & Wolff announced on Friday the appointment of administrators, leading to job losses while struggling to secure funding.

The company, known for building the Titanic, currently employs 66 staff. Administrators will need to cut an unspecified number of jobs, although some employees will remain for essential services.

The Belfast-based shipbuilder, which narrowly avoided closure in 2019, stated that its subsidiaries in Belfast, Scotland, and Appledore, England, are not affected by the insolvency process and continue to operate under their directors’ control.

In July, the UK government rejected the company’s request for a £200 million ($268.32 million) credit facility. Following this, the company’s CEO was put on immediate leave, and the finance chief resigned in September.

($1 = 0.7454 pounds)