A Northern Ireland company which bid for shipyard Harland & Wolff in 2019 has declined to comment on the prospects of a further tilt at the beleaguered business.
MJM Marine, based in Newry, eventually pulled out of negotiations in 2019 to buy H&W, which then went into administration.
Michael Flacks of US business Flacks Group had also expressed an interest in the shipyard business that year.
He told the Belfast Telegraph days ago that he would be interested in buying the Belfast yard to turn it into a ship repair site.
On Friday, H&W said it was trying to recapitalise and has sought advice on its “strategic options,” which could mean a sale of the business or part of it.
But in a statement to Belfast Telegraph on Monday, MJM Group — a group including a cruise ship fit-out company and now known as Rathbane Group — did not commit itself.
Labour Business Secretary Jonathan Reynolds told Parliament on Monday that it had decided not to provide a guarantee to the business for a £200m loan because it would risk the loss of taxpayer money.
The business, based in Belfast, had sought an Export Development Guarantee to enable it to fulfil part of a £1.6bn Royal Navy contract for three fleet solid support ships.
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Asked if the group was now in the running to acquire it, a spokesperson for Rathbane Group, said: “’We are aware of the situation at H&W, which plays an important role in our local maritime industry.
“As with any commercial situation, however, we would not speculate on what the future may be for the organisation.
“We wish all those involved in the process the best outcome for the benefit of the local and national economy.”
The business is crippled by hefty borrowings from Riverstone Credit Management in New York, which are to be repaid at high interest.
Dr Esmond Birnie, an economist at Ulster University, said the debt could impair its attractiveness to potential buyers.
Economist Dr Esmond Birnie
“Much will depend on whether the buyer would be buying the liability for the circa $100m debt, at a 14% interest rate,” he said.
“In theory, the dry dock should be a valuable asset as there are very few of these at that scale in the UK or across Europe and those three large Navy supply ships will have to be built somewhere.”
Alliance Party MLA Peter McReynolds said its representatives were engaging with the company, trade unions and the government to find a way forward.
“It is undoubtedly a time of ongoing uncertainty for employees of Harland and Wolff and their families, and my thoughts are with them,” said Mr McReynolds.
“Shipbuilding and other maritime engineering activities are a crucial part of our economy, especially in east Belfast, where Harland and Wolff is part of our proud history.
“The cranes alone are one of the most iconic images of Belfast, seen around the world. But it also can have a key role to play in our future.
“The company has a rich legacy, and has many skilled and forward-thinking individuals working there.”