Nobiskrug receives temporary financing from German state following insolvency

In the wake of its insolvency, German shipyard Nobiskrug has received temporary financing from the Schleswig-Holstein promotional bank to keep up operations at its Flensburg and Rendsburg sites while continuing the search for new investors. 

The German state loan, along with the insolvency substitute benefits, covers the employees' outstanding November salaries and ensures the short-term wages and salaries of almost 500 employees – 340 in Flensburg and 140 in Rendsburg – until 31 January 2025. After this point, the yard's future depends on its ability to secure new investments.