Harland & Wolff, Titanic Shipbuilder, Files for Bankruptcy

Published On Sep 16, 2024, 8:47 AM

Harland & Wolff, a historic shipyard in Northern Ireland known for building the Titanic, is going into administration due to significant financial issues and inability to secure long-term financing. The company's four shipyards will continue operations, and it has a contract to build three Royal Navy ships. This marks a challenging time for the 163-year-old company, which has seen steep losses in recent years and previously entered administration in 2019. The interim chair indicated that a sale of the company is likely as they plan to meet with shareholders soon.