Harland and Wolff has reiterated its need for a £200m government loan guarantee to help stabilise its finances
It has temporarily suspended trading in its shares because it has not been able to publish independently audited accounts on time.It said the delay in its accounts was due to discussions with its auditors about the correct way to account for revenues from complex, multi-year contracts. It is seeking to borrow from a consortium of UK banks, but needs the government to act as guarantor - meaning if the loans were to go bad the state would step in to repay the lenders.
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Source: BelfastLive - 🏆 16. / 77 Read more »