Harland and Wolff, the historic shipbuilding company known for the Titanic, faces a second administration in five years, resulting in expected job losses.
Michelle O'Neill, Northern Ireland's first minister, assured that her administration will focus on protecting jobs, meeting with trade union representatives to discuss commercial solutions.
Insolvency practitioners Teneo are lined up to act as administrators, with shares in Harland and Wolff set to be delisted following the administration announcement.
Despite the holding company facing administration, the operational companies managing the shipyards are anticipated to keep trading, preserving some level of employment.
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