McLean MBO bid expected Monday

Speculation is mounting that a management buyout is being planned with David McLean administrator Deloitte.

Deloitte is reportedly expected to recommend a bid on Monday. Five offers have been made for the Deeside-based group. Bidders are understood to include Redrow founder Steve Morgan via his Bridgemere Development Capital company.

The developer, contractor and housebuilder went into administration at the end of October, owing £70m to banks and up to £30m to contractors and suppliers.

Over 130 staff have been made redundant in the contracting division. The group employed 320 at the time of its collapse.

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