The company’s executive chairman, Russell Downs, is optimistic that a new owner or owners will be found for the yards.
Gavin Park and Matt Cowlishaw of Teneo Financial Advisory have been appointed as joint administrators.
The holding company currently has 66 employees.
In a statement Harland and Wolff said: “The Administrators will unfortunately be required to reduce the headcount upon appointment.
“A number of employees will be retained to provide certain required services to the operational companies under a transitional services agreement with the Administrators.”
The company has also restated that the administration process means that shareholders in Harland and Wolff will see the value of their investment wiped out.
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