The company says between 50 and 60 jobs are to be lost immediately but insists a there is a 'credible pathway to recovery' through a new owner taking over the business.
The iconic Belfast company that built the Titanic is to collapse into administration. Harland & Wolff has announced it is insolvent and will appoint administrators. An administration order will likely be made this week, it added. The company said between 50 and 60 jobs are to be lost immediately, most of them based in London, but staff employed at its four shipyards are not affected. Harland and Wolff has four shipyards - one in Belfast, two in Scotland and one in England .
The announcement follows a full review of all group holdings which began in July. Financial advisers were appointed to find potential investors or buyers of the business and 'a number of parties' expressed an interest in 'some or all' of the group's activities, Harland & Wolff said.
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