More hints surface of Harland & Wolff rescue

The UK government’s Department of Business & Trade also did not give any details, however it did say a solution was being sought.

“We are continuing to work extensively with all parties to find an outcome for Harland and Wolff that delivers shipbuilding and manufacturing in Belfast, Scotland and across the UK and protects jobs. We cannot comment further on commercial matters,” a spokesman from the department said.

It looked as if the final nail in the coffin was hammered in when the new Labour government in July refused to back a £200 million loan guarantee and creditors Riverstone Credit Management called in the loan and the company filed for bankruptcy, however rumours that Navantia could be stepping in have not been denied and the two firms have a long history of working together.

Sky News says London lawyers have been drafted in to look over a proposed rescue deal and that ministers are assessing whether to re-negotiate a Ministry of Defence contract that would enable the sale.