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| Version 1 | Version 2 |
|---|---|
| Building group facing £100m debts | Building group facing £100m debts |
| (about 5 hours later) | |
| The debts of a building company which is in administration are likely to run up to £100m. | The debts of a building company which is in administration are likely to run up to £100m. |
| Nick Edwards, joint administrator with Deloitte, revealed the debt figure for Flintshire-based David McLean Holdings Ltd and said there would be job losses. | Nick Edwards, joint administrator with Deloitte, revealed the debt figure for Flintshire-based David McLean Holdings Ltd and said there would be job losses. |
| The company employs 320 workers and went into administration on Monday as a result of the recent property downturn. | The company employs 320 workers and went into administration on Monday as a result of the recent property downturn. |
| Mr Edwards said he hoped to sell the housing side of the business as a going concern to help minimise job losses. | Mr Edwards said he hoped to sell the housing side of the business as a going concern to help minimise job losses. |
| Meanwhile, North Wales Police said a major £2.5m refurbishment of its Colwyn Bay headquarters would be delayed because of the problems surrounding contractors David McLean. | |
| Work began last November and was due to be completed by the end of the year. | |
| "Our aim is to get the contract up and running as quickly as possible in association with the main sub-contractors and we will work closely with the administrator to ensure this," said a force spokesman. | |
| The David McLean group was founded in 1972 and has offices in Cardiff and Shrewsbury with a turnover of £160m. | |
| However, the joint administrator confirmed that its housing, contracting and development divisions were all in administration as a result of various market conditions. | However, the joint administrator confirmed that its housing, contracting and development divisions were all in administration as a result of various market conditions. |
| Mr Edwards said the contracting division will close with subsequent job losses but hoped the housing division could be sold as a going concern. | Mr Edwards said the contracting division will close with subsequent job losses but hoped the housing division could be sold as a going concern. |
| Major losses | Major losses |
| Asked about the level of debt the company had run up, Mr Edwards told BBC News: "It will run into many millions, I would say, getting towards £100m. | Asked about the level of debt the company had run up, Mr Edwards told BBC News: "It will run into many millions, I would say, getting towards £100m. |
| "The group in the previous 12 months until the end of June sold just under 600 units - homes and apartments - and there are about 30 sites around the UK - primarily the north west, midlands and south Wales and the south west - which are at different stages of development. | "The group in the previous 12 months until the end of June sold just under 600 units - homes and apartments - and there are about 30 sites around the UK - primarily the north west, midlands and south Wales and the south west - which are at different stages of development. |
| "There will be a number of job losses, there already have been a number of job losses. | "There will be a number of job losses, there already have been a number of job losses. |
| "A lot of it comes down to if we have the ability to sell the homes business as a going concern to preserve jobs. | "A lot of it comes down to if we have the ability to sell the homes business as a going concern to preserve jobs. |
| "The contracting business is a matter we're going to have to deal with." | "The contracting business is a matter we're going to have to deal with." |
| The McLean group's Deeside headquarters employs 130 staff with another 40 in Cardiff, 25 in Shrewsbury and 105 working out on location. | The McLean group's Deeside headquarters employs 130 staff with another 40 in Cardiff, 25 in Shrewsbury and 105 working out on location. |
| As well as the police headquarters contract, it has another building contract involving Prestatyn School and 11 housing developments across Wales. |