The Aberdeen-based housebuilding firm entered administration in January with the immediate loss of 217 jobs.

Administrators at Teneo Financial Advisory, the company in charge of winding up the builder, said they only expect to make payments to secured creditors – chiefly Bank of Scotland which is owed more than £100m.

That leaves hundreds of contractors, suppliers, customers and staff facing the prospect of being left with nothing despite lodging claims worth more than £33.4m, The Courier has reported.

At the date of the administration, Stewart Milne Group and five of its subsidiaries left 10 projects unfinished, including Monarch’s Rise in Arbroath, Charleston in Cove, Aberdeen, Dunnottar Park in Stonehaven, and Hunter’s Meadow in Auchterarder, Perthshire.

Teneo said a sales process, launched with 110 parties showing interest in sites, has resulted in five sites being sold – Monarch’s Rise in Arbroath and developments in Hamilton, Bishopton, Haddington and Danderhall.

The sales of the partly finished sites have raised more than £15.7m in the six months to July 7. This included £700,000 realised from the sale of Monarch’s Rise.

The document revealed one of the remaining sites is in the process of being sold.

It added: “Negotiations with prospective purchasers in respect of the remaining two sites are at an advanced stage, and the joint administrators expect to conclude missives in the near term.”

To date, administrators have received 196 claims from former employees.

Workers can claim for wage arrears, holiday pay and pension contributions through the administration process.

Any shortfalls can be claimed from the National Insurance Fund, which is also responsible for statutory redundancy payments.

The document states: “It is estimated that claims will total £258k… however, this has not yet been finalised as there are still active claims.”