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Displaying items by tag: Insolvency

A formal legal process to place Harland and Wolff into administration will be completed later today.

As the BBC News reports an insolvency request is expected to be filed at the High Court in Belfast.

On Monday, the company announced that accountancy firm BDO had been appointed administrators to the Belfast shipyard.

Having employed more than 30,000 at its peak, the move could now put 120 jobs at risk and spell the end of the iconic firm, best known for building the Titanic.

Unions representing workers have called for the shipyard to be renationalised, arguing it would be cheaper for the government to keep the shipyard open.

However, the government has said the crisis is "ultimately a commercial issue".

For more on this story in addition to the history of the famous shipyard click here.

Published in Belfast Lough
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