Major Nicklaus golf plan at risk

The plan is backed by American playing legend Jack Nicklaus

The future of golf legend Jack Nicklaus's flagship £40m development, at the Ury Estate near Stonehaven, could be under threat.

Administrators have been appointed at the FM Group of companies, including the developers behind the Ury plans.

As well as a golf course, the plans include a hotel, 230 houses and the redevelopment of historic Ury House.

Joint administrator Fraser Gray said they were firmly committed to exploring the future options available.

He said: "This development has received strong support from local stakeholders and, with this in mind, we will be assessing the best way forward over the coming weeks."

Seven companies in the Edinburgh-headquartered FM Group were taken into joint administration by Fraser Gray, Elizabeth Mackay and Anne O'Keefe, of international recovery specialist Zolfo Cooper.

They were FM Herald Building; FM Granton; FM Property and Leisure; FM Developments; FM Commercial; FM St Vincent St and FM Homes.

Fraser Gray and Elizabeth Mackay were also appointed joint administrators over a further three companies in the FM Group.

They were FM City Quay Dundee; RPH Kennoway and RPH Libberton.