The scale of the firm’s debts are revealed in a Companies House update from administrator Teneo which shows the house builder also owed the Bank of Scotland £107.9m.
Administrator Teneo said so far 1,375 unsecured creditors had come forward but more are expected despite little chance of them seeing any of their money.
Stewart Milne Group went into administration last month with draft accounts showing a turnover for the year to October 31 2023 of £157.8m generating a pre-tax loss of £23.2m.
The directors had unsuccesfully tried to restructure the firm’s debts in the run-up to administration and had been involved in long-running attempts to sell the business which saw 50 potential bidders take a look but no successful offers were made.
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