Firm to oversee administration of troubled Titanic shipyard

LONDON — Belfast-based consultancy BDO Northern Ireland Partners says it will oversee the administration of the shipyard that built the Titanic after the firm ran out of money.

Harland and Wolff appointed BDO as administrators after its Norwegian parent company, Dolphin Drilling, failed to find a buyer following its insolvency.

The Belfast shipyard was best known for constructing the doomed White Star liner that sank in 1912 after hitting an iceberg. It once boasted a workforce of 30,000, but now employs about 125, though it supported hundreds of other jobs in its supply chain.

In recent years, it has worked on wind energy and marine engineering projects.

BDO said Tuesday it is engaging immediately with employees and stakeholders "to take all necessary steps to ensure they are supported throughout the administration process."

People also read these

N. Korea says UN condemnation of missile tests 'provocation'

Aug 27, 2016

North Korea has expressed anger at United Nations Security Council discussions over a statement denouncing the country's latest submarine-launched missile test

Clinton hits Trump by recalling her father's business

Aug 29, 2016

Hillary Clinton is invoking memories of her father's drapery business as she questions Donald Trump's economic record and promotes her small business plans

Global stocks rise as investors weigh future of US rates

Aug 30, 2016

Global stock markets mostly rose on Tuesday as investors weighed the possibility and timing of another U.S. interest rate increase this year

Walk The Biz welcomes all casual and easygoing readers who seeks to digest business travel to international trade policy to starting in the transportation & shipping industry.

Subscribe to our newsletter now!

Name:

Email: