Jim McColl's Clyde Blowers is Ferguson Shipbuilders preferred bidder

Ferguson Shipbuilders Administrators have made 70 staff redundant at Ferguson Shipbuilders in Port Glasgow

Jim McColl's Clyde Blowers Capital has been announced as the preferred bidder for the troubled Ferguson Shipbuilders.

The announcement from administrators KPMG is expected to lead to the sale of the Port Glasgow yard within 14 days.

Three bids had been made for Ferguson's business which went bust on 15 August with the loss of 70 jobs.

Clyde Blowers Capital was founded by its chairman Mr McColl, who is one of Scotland's wealthiest people with a fortune estimated to be about £1bn.

He said work would now begin top save the financially-stricken shipyard.

"We are pleased to have been selected as the preferred bidder for Fergusons which we believe has the potential to grow into a leading marine engineering business," Mr McColl said.

Jim McColl Jim McColl's personal fortune is estimated to be about £1bn

"Work is now underway to develop a plan to rebuild Fergusons. We look forward to working with all the key stakeholders in that rebuilding process."

Joint administrator Blair Nimmo of KPMG said the past few weeks had been a "challenging time" for everyone connected with the yard and he hoped progress on a sale could now be made.

"There are still ongoing discussions to be had with Clyde Blowers, however, we are now confident a sale can be achieved quickly."

'Positive step'

"This is a positive first step towards the potential resumption of ship building and ship repair activities at Port Glasgow."

Ferguson Shipbuilders went into administration following cash-flow difficulties and a lack of orders.

Last week, administrators gave a deadline of 17:00 on Thursday to submit bids for the shipyard.

Mr McColl's Clyde Blowers and McGill's Buses owners James and Sandy Easdale were among four initial bidders before the Easdales withdrew to back Mr McColl.

The identity of the two other remaining bids was not disclosed.

Originally formed in 1902, Ferguson Shipbuilder employed 77 staff at the time of the administration appointments. A skeleton staff has been retained to maintain the yard.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

BBC Glasgow & West

Weather

Glasgow

9 °C 7 °C

Scotland Live

  1.  
    07:55: Portraits of people with sight loss

    An exhibition of portraits of blind and partially-sighted people living in Scotland has launched in Edinburgh.

    Its subjects include politicians, cafe managers and authors.

    Photographer Trudy Stade stands in front of her portrait of Jamie MacDonald, who inspired her project

    The Royal National Institute of Blind People (RNIB) Scotland said that Connecting Visions aims to challenge perceptions of people with sight loss as "passive and dependent."

    Visitors will also be able to try on special spectacles that simulate different sight loss conditions.

    Photographer Trudy Stade was inspired to start the project after watching the comedian Jamie MacDonald, who is blind, perform.

     
  2.  
    Email: newsolinescotland@bbc.co.uk @bbcscotlandnews 07:49: 'Is the feline fit like?'

    New film The Voices has a cat that talks with a Scottish accent. He is voiced by the movie's lead, Canadian actor Ryan Reynolds.

    Ryan Reynolds

    The ginger tom called Mr Whiskers is the latest movie character to be portrayed as Scots but played by a non-Scot.

    Find more examples here.

    What others can you think of and how did they do?

     
  3.  
    07:40: Arts festival line-up

    Dumfries and Galloway Arts Festival line-up has been unveiled.

    Bella Hardy

    The Scottish Chamber Orchestra and comedian Hardeep Singh Kohli will be among the headliners and award-winning folk singer Bella Hardy will also feature.

    Eighty two acts will perform at 42 venues across the south-west over 10 days at the end of May.

    The event, which is in its 36th year, will also feature performances by the award-winning folk singer Bella Hardy and Scotland's Makar Liz Lochhead.

    Organisers have pledged to showcase world-class music, theatre, comedy and literature in towns, villages and remote rural areas across the region.

     
  4.  
    07:34: Fife Biomass plant opens

    A combined heat and power biomass plant on the site of a Fife-based paper maker is to open later.

    Biomass plant

    Scottish Energy Minister Fergus Ewing MSP will open the RWE's Markinch Biomass plant in Glenrothes.

    It replaces the former 1950s coal and gas-fired power station on the site of Tullis Russell.

    The new facility is already providing all of Tullis Russell's electricity and steam requirements, with excess electricity generation being fed into local networks.

     
  5.  
    07:30: Swanson stunner floors Celtic

    Danny Swanson's stunning strike secured a 1-0 victory for St Johnstone last night to consign Celtic to a first league defeat in nine games and end an 11-game unbeaten run.

    Danny Swanson celebrates what proved to be the winner at Celtic Park

    Swanson's effort moves Tommy Wright's troops back into the top six, while league leaders Celtic remain six points clear of nearest challengers Aberdeen.

     
  6.  
    07:22: Harris hawks concern

    Police are searching for two Harris hawks stolen from a bird of prey centre near Balloch.

    Hawk

    Staff at the Loch Lomond Bird of Prey Centre discovered the break-in on Tuesday morning.

    There is growing concern about the wellbeing of the birds: a four-and-a-half-year-old female called Camay and a two-and-a half-year-old male named Terco.

     
  7.  
    @BBCDouglasF Powered up Douglas Fraser Business and economy editor, Scotland

    Aggreko temp power supplier, Glasgow/Dumbarton: flat revenue, profit -13% on currency shifts: powered Glasgow Commonwealth Games + FIFA World Cup.

     
  8.  
    @BBCTravelScot Wind caution BBC Scotland Travel Latest

    Roads: 40mph speed restriction on the A90 Forth Road Bridge because of the wind.

    Ferries: Disruption to Cal Mac's Barra and South Uist service.

    Coll and Tiree ferries have been cancelled.

    Sound of Harris crossing and Iona on amber alert.

     
  9.  
    07:12: Tune in...

    For the latest analysis on this morning's biggest stories, including developments at Rangers, tune into BBC Radio's Good Morning Scotland.

    Good Morning Scotland

    Listen live to the programme here.

     
  10.  
    07:09: Scotland's cricket World Cup hopes dashed

    Kyle Coetzer scored Scotland's first World Cup century but their tournament hopes were ended with a six-wicket loss to Bangladesh in Nelson.

    Scotland can no longer qualify for the knockout stages after losing their fourth match out of four in Pool A.

    Scotland's wicketkeeper Matthew Cross

    Coetzer's 156 was the best World Cup score by an associate nation batsman and helped his team post 318-8 - their highest score against a Test side.

    But Tamim Iqbal (95) led Bangladesh to victory with 11 balls to spare.

    "It's very tough to take," Scotland captain Preston Mommsen said. "We did a lot of things right today but unfortunately we couldn't put the full package together.

    "Unfortunately, we just couldn't create enough chances to get 10 wickets."

    The Scots face the daunting task of taking on Sri Lanka and Australia in their remaining group matches.

     
  11.  
    07:06: Return of the King delayed?

    Dave King has revealed - as dealing in the club's shares were suspended - he will delay becoming Rangers chairman, should he win a shareholder vote.

    It follows the resignation of the club's nominated advisor, WH Ireland, ahead of Friday's extraordinary meeting at the Scottish Championship club.

    Dave King

    South Africa-based King is hoping to oust the present board.

    But his ally, Paul Murray, would become interim chairman until regulators approve his fellow shareholder's role.

    Question marks have been raised about King's involvement following his conviction for tax offences in South Africa.

     
  12.  
    @BBCScotWeather Heavy rain BBC Scotland Weather Latest

    A cloudy day. Rain in the north-west, heavy at times with strong south-westerly winds. Driest & brightest in the north-east. Milder for all at 9C to 12C.

     
  13.  
    07:02: SNP 'could oust Charles Kennedy' James Cook Scotland Correspondent, BBC News

    The SNP could win the safest Labour seat in Scotland at the general election and oust former Liberal Democrat leader Charles Kennedy, a poll by a Tory peer suggests.

    Polls in eight Scottish constituencies carried out by Lord Ashcroft predict that six could go to the SNP.

    Charles Kennedy

    They include Kirkcaldy and Cowdenbeath where the former prime minister Gordon Brown is standing down.

    Mr Brown had a majority of 23,000 in the Fife seat at the 2010 election.

    An SNP victory is also predicted in Edinburgh South West, where the former Labour chancellor Alistair Darling, who led the Better Together campaign against independence, is retiring from Westminster.

    Charles Kennedy is predicted to lose to the SNP in Ross, Skye and Lochaber, where he has been the MP since 1983 and is defending a majority of 13,000.

     
  14.  
    07:00: Here we go... Thomas McGuigan BBC Scotland News

    Good morning and a warm welcome to Thursday's edition of Scotland Live.

     

Features

Try our new site and tell us what you think. Learn more
Take me there

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.