 The company currently employs more than 500 people |
The future of Appledore Shipyard remains uncertain after crucial high-level talks in London on Tuesday failed to reach a decision. Bosses from the shipyard were asking for help from the government to help them win a �40m order.
Civil servants and Industry Minister, Alan Johnson, have asked for more information from the yard before making a decision on the guarantee structure for the order.
The Liberal Democrat MP for Torridge and West Devon, John Burnett, said he is deeply frustrated.
Job losses
"The sword of Damocles is still hanging over the shipyard," he said.
"It's very,very unsatisfactory that we haven't had an actual definite commitment from the government yet."
Appledore is bidding for the contract to build a ship for an offshore windfarm in the Bristol Channel which could give the workforce long-term security.
The deal, which has been debated in Westminster, is being held up because of a problem with the security of a loan which will pay for it to be completed.
As current work at the yard is being completed, new orders are failing to materialise and last week the company issued a notice warning of 99 job losses.
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