The sale of storied UK shipbuilder Harland & Wolff to Spanish defence group Navantia will “regrettably” mean losses for creditors and suppliers when the deal is finalised in January, the company’s interim executive chair has said.
But Russell Downs, the bankruptcy and restructuring expert who took the helm in July, told the Financial Times that the deal was the best outcome possible to keep the Titanic maker’s four yards alive and protect 1,000 jobs.
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