The owner of the Appledore Shipyard is to go into administration, creating uncertainty for around 200 staff in Devon.<\/p>\n
Harland and Wolff employs 1,300 across the group, which is dominated by its Belfast shipyard where the Titanic was famously built. It also has sites in Methil and Arnish in Scotland.<\/p>\n
The group may now see a break-up of its own as it prepares to appoint administrators for the second time in five years.<\/p>\n
The shipyards will continue to operate while administrators from Teneo seek a buyer.<\/p>\n
It is the latest disruption at Appledore, which was bought by Harland and Wolff in 2019 after it was closed by Babcock. However Babcock has been named by Sky News as a potential bidder for the group.<\/p>\n
Harland and Wolff interim executive chairman Russell Downs acknowledged it is “very unwelcome news for shareholders” who have seen their investments wiped out.<\/p>\n
He said: \u201cThe board, the senior managers and rest of the team are committed to deliver the best outcome for the four yards and communities they serve to ensure their continued operation into the long term under new ownership.<\/p>\n
\u201cUnfortunately, extremely difficult decisions have had to be taken to preserve the future of our yards. Despite the recent challenges, the four yards have a strong capability, under new ownership and with the continuing support of their customers, to deliver UK-based ship building and leading UK based renewables employing over 1,300 committed personnel.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Harland and Wolff will shortly appoint administrators for second time in five years<\/p>\n","protected":false},"author":18,"featured_media":6816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"coauthors":[81],"class_list":["post-16246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-devon","tag-top-story"],"yoast_head":"\n