German shipbuilder Werften filed for bankruptcy protection yesterday.
The yard group, which focuses on cruiseship construction, is owned by Malaysian entertainment group Genting. It failed to pay its staff their salaries last month.
Genting bought the shipbuilder in 2016. The shipbuilder has four sites on the Baltic and at Bremerhaven.
The nation’s shipbuilding association urged Berlin to step in and save the shipbuilder, stating in a release: “The German shipbuilding industry can no longer afford a further loss of substance on this scale.”
