Harland And Wolff Placed In Administration

Harland and Wolff (H&W) is to be placed into administration for the second time in five years.

According to reports, insolvency practitioner Teneo are expected to act as administrators, with the process to be confined to the holding company, Harland and Wolff Group Holdings plc, while the operational companies running the group's four shipyards are expected to continue trading.

Between 50 and 60 "non-core" jobs are expected to be cut immediately, however, reports have stated that staff employed at H&W's four shipyards – one in Belfast, one at Appledore in England and two in Scotland at Methil and Arnish – are "not affected".

Following the announcement, the company's Executive Chairman, Russell Down, said that he believed the shipyards still had "a credible future" and it was hoped a buyer could be found for the operations collectively or separately. Describing H&W as an "integral part of the economic and cultural fabric of Belfast", Green Party deputy leader Lesley Veronica said "it cannot be underestimated how devastating further reductions in operations will be for local workers and their families."

She continued: "This has a huge impact moving forward for the ability of the region to provide vital shipbuilding and renewable services.

"While the news that a number of companies have shown interest in the acquisition of the company there are significant concerns about what this might mean for the future of the business and for the workforce here in Northern Ireland.

"A deal should be announced towards the end of October, however it is imperative that the UK government should step in now to do all that it can to save a company which has played such a definitive role in the NI economy and symbolises so much to so many."