THE historic shipyard that built the ill-fated Titanic has itself sunk into insolvency.

Owners of Harland and Wolff chartered a course of business recovery in a bid to save their ailing company – but it has failed to keep it afloat.

Now the insolvency of the 158-year-old, Belfast-based shipbuilder is putting 123 jobs at risk.

As insolvency fears gathered pace in recent weeks, workers launched a “Save Our Shipyard” campaign.

It echoed the actions taken by a different generation of colleagues across the North East and Yorkshire when their own shipbuilding heritage sailed into financial difficulties.

Their campaigns against closure proved unsuccessful, as shipbuilders dominating the Tyne one-by-one fell by the wayside, changing the skyline forever.

This had a huge impact on North East shipbuilding communities living and working in Scotswood, Elswick, Newcastle, Gateshead, St Peter’s, Quay, High Walker, Low Walker, Hebburn, Wallsend, Jarrow, Willington Quay, Howdon, Coble Dene, North Shields and South Shields.

Yorkshire’s shipbuilding fame from a bygone age – centred on Whitby and the vessels that took Captain Cook on his voyage of discovery – is also consigned to history.

In their heyday, Newcastle and Whitby were the country’s most productive shipbuilding centres outside of London.

And it was a similar story for Harland and Wolff, which employed more than 35,000 people at its peak in the 1940s – a far cry from today as it enters administration.

Its insolvency signals a sad end to a company that achieved worldwide fame as the world’s most prolific builder of ocean liners.

That included the Titanic, whose story was turned into a cinema blockbuster that launched the careers of Kate Winslet and Leonardo Di Caprio, as they re-lived the iceberg tragedy that struck its maiden voyage.

Sadly, news about its insolvency is not a Hollywood script, but a stark reminder of the real-life financial challenges facing one of the UK’s most historic and important industries.

Only 712 people out of the 2,207 travelling aboard survived the sinking of the Titantic. Whether Harland and Wolff will become another victim associated with the ship it built, or whether a buyer can be found to overcome its insolvency and ensure its survival, remains to be seen.

Here at Walsh Taylor, when financial difficulties arise, we’ll put time on your side.

For more information on how our licensed insolvency practitioners and business recovery teams in Leeds, Bradford, Harrogate and Darlington can help you, please call us on 03300 244 660 or email confidential@walshtaylor.co.uk

Mary Taylor
Director

Mary began working in insolvency for a national accountancy practice in Glasgow thirty years ago and worked in most divisions of the insolvency department.

She then moved to a smaller firm so she could advance her knowledge on a more hands on basis. She moved back to Leeds in 1987 and commenced working with a small firm of accountants and subsequently made partner.

She left in 1999 to set up her own practice, McCann Taylor.
McCann Taylor became involved with the consumer market both in England and Scotland.

Mary sold McCann Taylor in March 2007 and formed Walsh Taylor to concentrate on helping businesses experiencing financial difficulties.

Kate Ellis (neé Breese)
Director

Kate has worked in insolvency since 2001 starting out at a firm of solicitors in Leeds and latterly gaining positions within two national accountancy firms.

During this time Kate gained extensive experience in all aspects of personal and corporate insolvency, for the first part of her career specializing in personal insolvency and latterly corporate.

Kate has been with Walsh Taylor since its incorporation in September 2008, being promoted to Director in January 2010.

Kate is CPI and JIEB qualified, is experienced in a variety of industries and sectors and is the firm’s joint appointment taker.

Meg Heath
Director

Meg has a background in supporting SMEs, including the raising of finance and advising on organisational change. She is a non-executive director of companies in the private and third sector, including Walsh Taylor.

Previously she was Deputy Fund Director of one of the largest CDFIs in the UK, and has experience of the social enterprise, charity and private sectors. Her experience of assisting companies to survive and thrive has been gained across a broad range of sectors and in companies of all sizes.

In addition to her work at Walsh Taylor she works for other private companies, including non-executive and trustee positions.

Emma Mifsud
Director

After graduating from Leeds University in 2005 with a BA Hons degree in Criminology, Emma worked for a regional law firm in both the property department and insolvency and banking department. Whilst doing so Emma gained a Graduate Diploma in Law at BPP University.

Emma then joined a national accountancy firm in 2009 gaining experience in personal insolvency before moving to a Leeds based firm. At this firm Emma specialised in bankruptcies, IVA’s and negotiating informal agreements with creditors. In 2013 Emma gained her CPI qualification.

Since joining the firm in December 2013, Emma has taken on a portfolio of personal and corporate insolvency cases to extend her knowledge and expertise in all areas of insolvency.

In December 2017 Emma become a licensed appointment taker under the Insolvency Practitioners Association, she is JIEB qualified.

Walsh Taylor Finding workable solutions for your financial problems
If you would like us to contact you by phone please include your phone number or call us on 03300244660.