Transportation
Titanic Shipyard Owner Set to Enter Administration This Week
- UK Labour government rejected appeal for state support
- Company will cut some jobs and wind down non-core operations
The company sought emergency funding earlier in the summer to avoid falling into administration for a second time, having previously collapsed in 2019.
Photographer: Paul McErlane/BloombergThis article is for subscribers only.
The owner of the shipping yard that built the Titanic is entering administration, a type of insolvency procedure in the UK, for the second time in five years.
Harland & Wolff Group Holdings Plc, which has been on the brink after Britain’s new Labour government rejected the struggling business’s appeal for state support, confirmed the move on Monday.