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Belfast Live
Belfast Live
National
Chris Sherrard

Harland and Wolff administrators release update on future of company

There has been a "healthy interest" in buying Harland and Wolff, the firm's administrators have revealed.

The legendary Belfast shipyard, famed for building the Titanic , went into administration at the start of August after its troubled Norwegian parent company, Dolphin Drilling, failed to find a buyer.

The shipbuilder, whose famous yellow cranes, Samson and Goliath, dominate the Belfast skyline, employed more than 30,000 people during the city's industrial heyday, but the current workforce numbers around 125.

Workers had called on the Government to step in to rescue the operation, potentially through nationalisation.

But Westminster has declined to intervene, insisting the issue is a commercial one.

Administrators BDO Northern Ireland has this morning provided an update on the future of the firm.

A spokesman for BDO NI said: “Michael Jennings and Brian Murphy of BDO NI were appointed as Joint Administrators of Harland & Wolff Group Plc and Harland & Wolff Heavy Industries Limited on Tuesday 6 August 2019.

"There has been a healthy level of interest with regard to purchasing the business, assets and safeguarding the existing jobs since the commencement of the Administration process.

Harland and Wolff workers protest at the Belfast shipyard (Jonathan Porter/PressEye)

"This has resulted in a number of non-binding offers for the business, assets & employees on a going concern basis.

"There are also other interested parties who are in constructive discussions with the Administrators which may result in further offers.

"The Administrators along with the Unions and Employees have extended the unpaid temporary lay-off position beyond the 16 August 2019 to 30 September 2019 to allow additional time to seek to complete a sale of the business.

"The Administrators and the limited retained team of workers at Harland & Wolff will continue to work with all interested parties and bidders as they undertake further financial and legal due diligence work in the coming weeks as every effort is made to secure a going concern sale.”

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