The Government is under pressure to sign off a £200million bailout for the Titanic shipbuilder Harland & Wolff.
The 162-year-old shipyard operator is in crisis talks with ministers to approve a rescue.
Its shares were suspended from London’s Aim market last week after it failed to publish annual results on time.
Bailout plea: Titanic shipbuilder Harland & Wolff is in crisis talks with ministers to approve its rescue deal
The Belfast group – famous for building the Titanic more than a century ago – is in discussions with auditors on how to account for revenues of some ‘multi-year and complex’ contracts.
Bosses have applied for a £200million loan guarantee, to keep it afloat, and are seeking to borrow cash from a consortium of UK banks – but need the Government to act as guarantor prepared to repay lenders if the loans go bad.
The saga raises questions over Labour’s industrial policy and ambitions.
Other crises include Tata Steel’s plans to axe 2,800 jobs, Royal Mail heading for foreign ownership and Dyson consulting on cutting 1,000 roles.
Harland and Wolff was bought in 2019 by Infrastrata. Losses hit £70million for 2022, its latest accounts.
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