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Harland & Wolff: Belfast shipyard agrees new loan

The company employs about 1,500 people in the UK.

Its main site is in Belfast and it also has yards at Appledore in the west of England and at Methil and Arnish in Scotland.

It has been heavily loss making and its shares are currently suspended after it failed to file audited accounts on time.

After the firm’s loan guarantee bid was rejected its chief executive John Wood took a leave of absence.

On Thursday, the firm said it had “terminated his employment” and the business is now being run by its new executive chairman, the restructuring expert Russell Downs.

It said Mr Wood had made an “invaluable contribution” to the business and it “wished him the very best in his future endeavours”.


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