bidder

Larson wrote in the same email that ECC was “supposedly the lowest bidder” but was “costing more” than the lower bids, which he wrote “doesn’t make sense.”

The yard, run by British-based defence giant Babcock, is also one of the final two bidders for a Swedish navy contract for up to seven of the same Type 31 ships.

Other potential bidders have expressed frustration that they have been locked out of advancing their own plans as the lenders have effective control of the company.

The auction service does not name the bidders.

Experts blame a confluence of factors, including high interest rates, rising construction costs and delays in attracting viable bidders.