For the second time in five years, the parent company of the shipyard in Belfast, Northern Ireland, will enter administration, with Royal Navy contracts in the balance.

Harland & Wolff, the British holding company for the shipyard that built the Titanic and other 20th-century ocean liners, said on Monday that it was going into administration, similar to U.S. bankruptcy proceedings, after months of intense financial turmoil.

The company said in a regulatory filing that it was insolvent and that the advisory firm Teneo would be appointed as the administrator. While Harland & Wolff will go into administration, the company’s four shipyards will continue operating, it said. The future of its large site in Belfast, Northern Ireland, where the RMS Titanic, RMS Olympic and other ocean liners were built more than a century ago, has come into sharp focus because the company has a contract to build three Royal Navy ships there.

“The group

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