Latest results for the Manchester-based business show a turnover of £45.9 million for the year to 31 October 2022, generating a pre-tax loss of £1.1m.

The whole group was put up for sale in April 2022 when its founder and main shareholder Stewart Milne decided to retire after nearly 50 years at the helm.

But later that year the sale process was put on pause in wake of the economic turmoil caused by Liz Truss’s brief reign as Prime Minister.

The company confirmed last year that it was again seeking a buyer after posting group results for the year showing a £16.5m pre-tax profit from turnover of £172.3m.

Stewart Milne has offices in Aberdeen, Edinburgh, Glasgow and Manchester and has a payroll of about 1,000 including subcontractors.