THE administrators assessing a major Scottish building firm after news of its collapse broke on Monday have issued a statement on deposits paid by house buyers who are still waiting for their move-in date.
Teneo were called in after the Aberdeen-based Stewart Milne Group entered administration, with the immediate loss of more than 200 jobs.
On Wednesday, the joint administrators said in a statement that it was “too early” to say what could happen to deposits paid on properties by buyers who have not yet moved in.
Teneo told the East Lothian Courier: “It’s too early to comment on this given that we are still assessing all the options in respect of the group's Scottish development sites.”
The Stewart Milne group website (stewartmilne.com) appears to have gone offline, but on Monday a message was posted informing customers of what actions to take in respect to any deposits or investments they had with the firm.
It said: “Customers: If you have reserved a Stewart Milne property and have not yet moved in we will be contacting you directly. However, should you have an immediate query please contact SMReserved@teneo.com.
“If you currently live in a Stewart Milne property and have a query with regards outstanding [sic] works, please contact SMHomeowners@teneo.com for further information.
“Creditors: All sums due by the companies, prior to January 8 2024, will rank as an unsecured claim in the administration of the relevant company. All known creditors will be contacted providing details of how to submit a claim.
“All other creditor queries should be submitted to SMGeneral@teneo.com.”
The notice said that seven companies under the Stewart Milne banner had been placed into administration.
These were: Stewart Milne Group Limited, Stewart Milne Homes North West England Limited, Stewart Milne Homes Central Scotland Limited, Stewart Milne Central Scotland (Developments) Limited, Stewart Milne (Arbroath) Limited, Stewart Milne Homes (Auchterarder) Limited, and Stewart Milne Homes (Kirkton) Limited.
On Tuesday, the Scottish Government issued a statement about the collapse of the group.
Responding to an urgent question from Tory MSP Douglas Lumsden asking what discussions the Scottish Government has had with the firm’s administrators, Wellbeing Economy Secretary Neil Gray (below) said he had met with administrators that morning.
Gray went on: “I made clear to them that I want to see every possible support to be offered to affected staff, contractors, suppliers and homebuyers.
“People affected by this announcement are our immediate priority.”
The SNP MSP added that the Scottish Government was offering support through their Partnership Action for Continuing Employment (PACE) and that recruiters had “already” approached those affected by the redundancies.
First Minister Humza Yousaf previously called the news “concerning” and said that it was “undoubtedly a huge shock for the workers impacted”.
