WEALTHY businessman Jim McColl’s firm has been announced as preferred bidder for Ferguson’s in Port Glasgow.

Yard administrators KPMG yesterday announced that Clyde Blowers had been invited to take over the Newark site less than a fortnight after they were called in and 70 jobs were axed.

The offer was selected ahead of two other bids which remained active. Joint administrators KPMG will now work with Mr McColl’s team with a view to completing the sale ‘as soon as possible’ but this is expected to be within 14 business days.

Blair Nimmo, joint administrator and head of restructuring at KPMG in Scotland, said: “We would like to thank all parties who expressed an interest in securing the heritage and future of Ferguson Shipbuilders. There are still ongoing discussions to be had with Clyde Blowers, however, we are now confident a sale can be achieved quickly.

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

“We would also like to thank all parties for their continued support and patience during a challenging time for all concerned — employees, shop stewards, union representatives, the Scottish Government, Inverclyde Council and local elected members.” The announcement comes less than two weeks since Ferguson’s — as well as offshoot companies Newark Joiners Ltd and Ferguson-Ailsa Ltd — went into administration.

Mr McColl, chairman and chief executive of Clyde Blowers, said: “We are pleased to have been selected as the preferred bidder for Ferguson’s which we believe has the potential to grow into a leading marine engineering business.

“Work is now underway to develop a plan to rebuild Ferguson’s. We look forward to working with all the key stakeholders in that rebuilding process.” Yesterday’s announcement came shortly after more high-level talks were held at the specially-formed Ferguson’s Task Force.

The meeting was chaired by Scottish Government finance secretary John Swinney with council leader Stephen McCabe also in attendance.

Local MSP Stuart McMillan has welcomed yesterday’s announcement.

He said: “This has been a difficult time for the workforce and the community as a whole.

“I welcome the efforts and speed of all those involved to find a preferred bidder for the yard and commend the Scottish Government, and other partners for acting to assist the workforce.

“I am now looking forward to Ferguson’s having a long and prosperous future building even more ships in Port Glasgow.”