LaNaval's troubles mark a low point in a history that lasts more than a century.
Formerly the civil shipbuilding wing of state-owned shipbuilder Izar, the shipyard was privatised in 2006 with the military and repair arms remaining part of state-controlled Navantia.
LaNaval's majority shareholders are local companies Ingeteam and Astilleros Murueta, both with 33.8% stakes.
The yard, on the left bank of the Nervion river, is said to have around 180 permanent workers but generates around 1,500 jobs.
