A TROUBLED shipyard at the centre of a long-running dispute over two ferries has warned it is on the brink of administration. 
Bosses at Ferguson Marine – the last of its kind on the Clyde – said it has until next Friday to find the solution to a cash crisis sparked by the row. 
They has been at loggerheads with Caledonian Maritime Assets Ltd (CMAL), a public body that owns CalMac’s fleet and assets, for months over the delivery of two vessels. 
The row centres on rising costs for the construction of two long-awaited ferries – now thought to be almost double the original £97 million contract price.
Scottish ministers argue Ferguson Marine, owned by Scots tycoon Jim McColl’s Clyde Blowers firm, should foot the extra bill.
However, if this cannot be agreed, it is believed the Scottish Government is preparing to nationalise the yard to ensure it stays open.
A Scottish Government spokeswoman said: “Our priority remains to ensure the completion of the vessels under construction, secure jobs for the workforce and protect the future of shipbuilding at the site.
“We have been working to secure a future for the shipyard for two years, and it is disappointing that we have not been able to reach a commercial solution with [Clyde Blowers] that would have prevented administrators becoming involved. 
“We appreciate that this will be a concerning time for the workforce, their families and the local community, and we would like to reassure them that we are committed to maintaining the jobs on the site and building a secure future for the yard and its workforce.
“We have been working closely with trades unions representatives throughout this process, and we will continue to do so in the coming days and weeks.”