The holding company's shipyard subsidiaries are not subject to the insolvency processes and are continuing to trade.
Earlier this month, it was announced that the parent company of shipbuilder Harland & Wolff was set to move into administration.
Harland & Wolff Group Holdings had been found to be insolvent on a balance sheet basis.
Now (27 September), Harland & Wolff Group Holdings has appointed Gavin Park and Matt Cowlishaw of Teneo Financial Advisory Ltd as joint administrators.
Harland & Wolff Group Holdings is an AIM-quoted parent company for a group which specialises in shipbuilding, ship repair and marine engineering.
At the date of appointment, Harland & Wolff Group Holdings had 66 employees.
The administrators said they have taken steps to reduce the headcount upon appointment. A number of employees will be retained to provide certain required services to the operational companies under a transitional services agreement with the administrators.
Rothschild & Co has been engaged on 25 July 2024 to assess strategic options for Harland & Wolff Group Holdings and its subsidiaries.
In an update, Harland & Wolff Group Holdings said the Rothschild-run process remains ongoing and" further updates will be made as appropriate".
The strategic review will not result in any returns to shareholders of Harland & Wolff Group Holdings plc.
Harland & Wolff Group Holdings is a non-trading holding company and is the only entity to which administrators have been appointed.
The wider group's core operations comprise its four yards - in Belfast, Appledore, Arnish and Methil - and its interests in the Islandmagee Gas Storage project.
When the business announced it was set to enter administration, the Harland & Wolff Group Holdings board was said to be of the view that there is a "credible pathway" to continuing core operations built around a four-yard operation delivering the £1.6bn naval FSS contract it is involved with, as well as ongoing projects, and other uncontracted revenue across its sites.
