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Shepherd Construction is owed 拢15.5m for its work on the collapsed Wakefield Trinity Walk shopping centre scheme in West Yorkshire, with little prospect of recouping its debt.

A creditors鈥� report filed with Companies House says the 拢200m scheme went into administration owing 拢68m to its banks. The document says it is now worth about 拢7m, on which the lenders have first call. A further 拢21m is owed to 鈥減referential creditors鈥�, which include Shepherd.

A hit of 拢15m would place pressure on the finances of Shepherd, which made a loss of 拢9.2m in 2008, after a 拢14m hit on a delayed student housing scheme in Nottingham. Vaughan Burnand, its chief executive, left in October last year.

A source close to the privately owned builder said it might take on the scheme with its own development division if no buyer was found.

The 500,000ft2 Trinity Walk scheme failed in March after Anglo Irish Bank decided to withdraw its financing for the scheme. At that point, Debenhams and Sainsbury鈥檚 had signed up as tenants and a 拢7m public sector bailout had been agreed with Wakefield council.

It was being developed by a joint venture between Modus and property investor Ciref. The venture is now owed 拢3.5m.

A source close to Shepherd said it might use its developments division to take on the scheme itself

Other creditors include Turner & Townsend, which is owed more than 拢50,000, lawyer Eversheds, which is owed 拢155,000, and CB Richard Ellis, which is owed more than 拢20,000.

KPMG, which compiled the report, said the scheme had a book value of 拢86m, but that it was likely to realise only 拢7m.

A spokesperson for KPMG said the administrator was 鈥渓iaising with interested parties鈥� over recouping the value from the business, but refused to comment on whether it was trying to sell it as a going concern.

It is not known what the effect of the collapse will be on Shepherd鈥檚 supply chain.

Shepherd is thought to have had 186 workers on the site. They have been redeployed since the collapse.

A spokesperson for Shepherd said it was looking at a 鈥渘umber of options鈥� to keep the scheme going, and that the firm was 鈥渙ne of the most financially strong contractors in the country鈥�, and was 鈥渃urrently on site with numerous other projects, with a very strong order book going forward鈥�.