The yard said the state of Mecklenburg-Vorpommern indicated it would not raise the agreed loan guarantee of EUR 152m ($189.53m), even though it had already paid half of this to the company.
The European Union had okayed the cash, pending an overhaul plan by German authorities to ensure its viability.
P+S needed the money to pay off creditors and maintain production. Loan cash would also help it complete two ro-pax vessels for Scandlines.
The
