Auditors of Aberdeen-based housebuilder Stewart Milne have cast doubt on the firm’s ability to continue as a going concern because of its reliance on a bank loan which is  due to be repaid in March next year.

In company accounts for the year to October 2020 published on Companies House, auditor KPMG said the repayment date for the £175m loan meant there was a “material uncertainty” about the firm’s future.

However, KPMG also made clear that discussions over a “comprehensive” refinancing package had begun, and ultimately signed off the accounts on a “going concern” basis.

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