Harland and Wolff Enters Administration, Shareholders to Lose Investments

The historic shipbuilder's holding company faces its second administration in five years, impacting 66 employees and putting major contracts at risk.

Harland and Wolff, known for building the Titanic, has entered administration for the second time in five years.
The administration affects the holding company, Harland & Wolff Group Holdings PLC, while operational yards in Belfast, England, and Scotland continue to trade.
Shareholders have been warned that their investments will be wiped out, with no expected returns following a review by Rothschild.
The company is part of a consortium with a £1.6 billion contract to build support ships for the Royal Navy, now jeopardized by financial troubles.
An investigation into the alleged misuse of over £25 million in customer payments under former CEO John Wood is ongoing.