The collapse of Harland & Wolff into administration highlights the company's struggle to secure new funding after trading was suspended, leading to inevitable job losses.
With the appointment of administrators, Harland & Wolff confirmed that the strategic review will not return any value to shareholders, underscoring the severity of the situation.
The iconic shipyard, which once employed 20,000 people, has seen a devastating decline, emphasizing the challenges facing the UK shipbuilding industry in recent years.
Although the holding firm is now in administration, Harland & Wolff's subsidiaries will continue to operate, suggesting some continuity in shipbuilding despite the overarching crisis.
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