Harland & Wolff, the British holding company for the shipyard that built the Titanic and other 20th-century ocean liners, has confirmed its move into administration due to significant financial struggles, which raises questions about the future of its historic Belfast site.
Russell Downs, a restructuring expert and interim executive chair at Harland & Wolff, emphasized the company's deep-rooted financial troubles, stating the likelihood of a sale to private ownership due to ongoing significant historical losses and a lack of long-term financing.
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