Stewart Milne Group: Administration extended for a further 12 months

The administration for Stewart Milne Group and its subsidiaries has been extended for a further 12 months. A request made by administrators Teneo to extend the process until January 8 2026, has been approved by the Court of Session in Edinburgh. Teneo had previously warned it expected to extend the period to “enable sale of the unrealised assets and, in the case of SMG, the conclusion of employment tribunal claims”.

SMG left a nine-figure debt mountain in its wake when it ceased trading in January. Stewart Milne Group debts Hundreds of ordinary creditors owed more than £33 million from the collapse of housebuilder have already been warned they will not receive a penny back from the business. Teneo confirmed they only expect to make payments to secured creditors – chief of which is Bank of Scotland which is owed more than £100m.



That leaves hundreds of contractors, suppliers, customers and staff facing the prospect of being left with nothing despite lodging claims worth more than £33.4m. SMG, based in Westhill, near Aberdeen, had 329 employees at the time of its collapse.

A total of 217 workers were made redundant immediately, as the firm ceased trading, with 112 retained to help wind businesses down. Cash recovered from sale of sites It left eight projects unfinished which included Charleston in Cove, Aberdeen, Dunnottar Park in Stonehaven and Monarch’s Rise in Arbroath. In the first six months of the administrations, it sold five sites which raised £15.

7m. Milestone Developments, owned by husband and wife team Stuart and Nicola Jackson, after striking a deal with Teneo. Stewart Milne administrator charges A report covering the first six months of the administration shows T of work at an average rate of more than £900 an hour.

The total bill of £6,173,209 means administrators have been charging more than £1m a month. So far, Teneo has not taken any payments. With the administration expected to continue for several years, this sum will only increase.

for comment. Read all of the SMG Press and Journal coverage.