The Bergen shipyard Mjellem og Karlsen Verft is bankrupt. The future for the 450 employees is still uncertain.
A press release from the board states that the yard is declared bankrupt because of the company's economic situation, and considering the prospects for the future.
Mjellem og Karlsen is a yard with a long tradition, but has not received orders for the building of new ships since December 2000, NRK reports.
The parent company, Mjellem og Karlsen AS will continue to look after the contractual obligations the company has entered into with Spanish yard Izar in connection with the building of new frigates for the Norwegian Navy, the press release states.