John Wood led rescue of Titanic shipbuilder but his departure is condition of new loan
The chief executive of Harland & Wolff has resigned as the struggling Belfast shipbuilder seeks to negotiate an emergency loan to stave off collapse. Photograph: Paulo Nunes dos Santos/BloombergThe chief executive of Harland & Wolff has resigned as the struggling Belfast shipbuilder seeks to negotiate an emergency loan to stave off collapse, according to several people familiar with the situation.
Jonathan Reynolds, business secretary, is set to update the House of Commons on Monday about the situation at H & W.EY Entrepreneur of the Year profiles: From treating hair loss in men to providing e-scooters across Europe, here are some of this year’s nominees Unions have warned about the potential impact on jobs if the company fails to secure new financing. H & W employs about 1,500 people across four sites, at Belfast, Appledore in Devon and Methil and Arnish in Scotland.
He was at the helm of a £6 million rescue of the Titanic shipbuilder from administration in 2019, and had touted progress in turning the company around.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Harland & Wolff seeks fresh loan as it fights for survivalShipbuilder in emergency talks with Wall Street backer Riverstone
Read more »
UK ministers set to reject £200m loan backing for Harland & WolffLabour government said to have decided granting debt guarantee would be ‘deeply irresponsible’
Read more »
Harland & Wolff crisis is new UK government’s first test of industrial policyBelfast shipbuilder in talks with British government on rescue plan
Read more »
Belfast shipbuilder Harland & Wolff has shares suspended after delay to annual resultsCompany cites ‘ongoing discussion’ with auditors over revenue recognition for hold-up
Read more »
Male teenager arrested in relation to assault of woman as she walked wood trailThe alleged assault occurred at approximately 7.10pm on the evening of Thursday, June 6 and the woman did not require medical attention following the incident
Read more »
Shelbourne boost as Harry Wood signs on permanent deal from Hull CityBohemians, Dundalk and Sligo Rovers were also busy in the transfer market today.
Read more »