Craig Jones, the chief executive of Verry Construction, mounted a last-minute bid to rescue the failed contractor

According to sources close to the administration process, Jones expressed his interest after it became public that the company was headed for receivership.

Jones鈥 move followed a row with John Gibson, Verry鈥檚 chairman, over the use of cash within William Verry Holdings, the parent company that also owns St Albans City football club.

As a result of the row, it is understood Jones has not been at his desk since February. Both Jones and Gibson were unavailable for comment.

As 黑洞社区 went to press, Essex contractor McLaren Construction looked set to buy Verry鈥檚 existing contracts. It had reportedly fought off Kier, ISG and Rok for them.

A spokesperson for administrator BDO said as many of Verry鈥檚 120 staff as possible would be kept on, but it was still not clear whether the name would survive.

We鈥檙e treating the money as a lost cause. Nobody has contacted us all about McLaren

James Blunt, Bagley Plastering

Despite the news of the sale, subcontractors are concerned over lost payments.

James Blunt is a consultant for Bagley Plastering, a firm with a turnover of 拢2.5m that is owed about 拢56,000. Blunt said promises of payment were made but not kept and his firm had not been told that McLaren had taken over Verry鈥檚 existing contracts by Wednesday.

鈥淲e鈥檙e treating the money we鈥檙e owed as a lost cause now,鈥 he said. 鈥淚鈥檝e tried to get hold of Verry, but have been unable to get through. Nobody has contacted us at all about McLaren. I doubt any of the supply chain who are owed money will be paid.鈥

Paul Cunningham, company director for recruitment specialist Borne, which is owed between 拢12,000 and 拢15,000, said: 鈥淚 believe that money鈥檚 a goner now. I don鈥檛 think we鈥檒l get paid at all.鈥