I have a text file that I need to separate into about 250 columns. There are no delimiters that exist. (see pic below)

Is there a way to establish the field names/lengths outside of manually setting the field divisions and naming each field? I see the "Use Field Settings from File" option, but can't locate any instructions/examples on how that is used.
Ideally, I'd like to create a file with the field name and lengths and then use those values to parse the txt file.