UK shipbuilding company plunges into administration - owes £15m

UK shipbuilding company plunges into administration - owes £15mA UK shipbuilding company has plunged into administration with creditors owed a total of £15million by the business. Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Bookmark Add us as preferred source Comments By Ewan Gleadow 09:23, Sat, Jun 6, 2026 Updated: 09:31, Sat, Jun 6, 2026 A shipping company has been plunged into administration (Image: Getty)A shipping company has plunged into administration and owes £15million to 78 creditors. The company that brought shipbuilding back to a Scottish island for the first time in a century folded with the loss of all jobs earlier this week. Coastal Workboats Scotland Limited owed a further £3million on top of £12million listed in accounts. window.scriptsToLoad.push({url:'https://live.primis.tech/live/liveView.php?s=118222&vp_content=plembed3a6btjknzwqh&cbuster=%%CACHEBUSTER%%&playerApiId=v118222',triggeredBy:'tcfLoaded',delay:1500,containerId:'ovp-primis',title:"Primis player",beforeLoad:()=>{window.top.addEventListener('primisPlayerInit',e=>{try{if(e.detail&&e.detail.playerApiId==="v118222"){if(window.document.getElementsByClassName('jwplayer')[0]){e.detail.float('disable')}}}catch(e){}})},}) The company collapsed with five vessels still unfinished, including the UK's first all-electric commercial workboat of its kind, Herald Scotland reported. It had five staff and aimed to employ a further 20 to build a range of workboats for customers including Damen, the Dutch shipbuilder. Article continues below ADVERTISEMENT Get the day's biggest headlines in UK and World news and more Subscribe Invalid emailWe use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy State pensioners shopping at Iceland handed DWP boost for extra cash UK football...