Government Rejects Financial Aid for Harland & Wolff, Citing High Risk

Business Secretary Jonathan Reynolds expresses confidence in a market-led solution despite the shipbuilder's uncertain future.

Harland & Wolff's request for a £200 million loan guarantee was denied by the UK government.
The shipbuilder is part of a £1.6 billion contract to build support ships for the Royal Navy.
The government decision aims to avoid risking taxpayer money on the financially troubled company.
Harland & Wolff's CEO John Wood has taken a leave of absence amid ongoing refinancing efforts.
The company continues to seek private sector loans and engage with stakeholders to secure its future.