Campbell Dallas made its comment about John Stodart after calculating Muirfield owed at least £6.9 million to several hundred creditors, The Courier has reported.

The administrators said Muirfield held back information, adding: “The book value of contract debts appears to be significantly understated.”

They accused John Stodart of not including unpaid wages and holiday pay due to his workforce and said that the value of the company’s assets and liabilities suggested by Mr Stodart “are materially different to those which appear in the company’s books and records”.

The details emerged in lists of trade and goods and service creditor claims running to 15 pages and containing around 1,000 entries.

Muirfield’s debts, presented in a statement of affairs to the administrators by Mr Stodart, amounted to almost £5.9m, plus a £1m floating charge due to former owner Maurice McKay who sold the company to Mr Stodart.

The £5.9m comprises £2.6m due to sub-contractor trade creditors; £2.4m due to goods and services’ creditors; £640,000 due to Her Majesty’s Revenue and Customs for PAYE and National Insurance, and £181,000 to HMRC for corporation tax.

Trade creditor debts include almost £270,000 due to Advance Construction Scotland; £44,000 to Briggs Amasco; £173,000 to Deeside Timberframe; £102,000 to Hutchison Services; £276,000 to McGill Electrical of Dundee, and £116,000 to Northern Access Floors.

Founded in 1988, Muirfield Contracts called in administrators two months ago after sending staff home amid “unsustainable” cash flow issues.

Campbell Dallas made 258 staff redundant, and a further 110 previously engaged sub-contractors also lost work.

A report by the administrators will be considered at a creditors’ meeting in the Apex Hotel, Dundee, on Thursday.

The prospects of recovering any money are unclear with legal action under way.