The current owners of Nardini"s cafe say they have every intention of resurrecting the past glory of the famous seafront building in the new year after overcoming a major financial hurdle.

In a surprise development, director John Fox of Nardini"s cafe addressed councillors and pledged to have the development open for June 2008 with building work to begin on January 7.

There was a large crowd including interested parties who attended the D-Day on the future of Nardini"s Cafe at Moorburn Chambers on Monday. The council had plans to pursue a compulsory purchase order in tandem with a new developer if an unsatisfactory answer had not been obtained by the current owners in time for Monday"s meeting.

But at the eleventh hour, Mr Fox, one of the directors of Italgelat who own the Nardini"s cafe building, told the audience that there had been financial problems which have now been overcome but received criticism from local councillors for not advising them of their predicament which had consequently fuelled speculation and rumours about the situation, leading North Ayrshire Council to consider the prospect of a compulsory purchase of the historic seafront icon.

Mr Fox said: 'Contractors were appointed and work on site commenced in September 2006 with completion scheduled for spring 2007. Our bank manager who had supported our plans all the way moved on, a new team were appointed who immediately showed concern about the project, asking for a further �600,000 of capital be injected and asked for all work on site to stop till this was resolved.

'This presented a fresh challenge and caused much speculation. Many words were written, no negotiations were entered into with any other party as it was always our intention to complete and operate the project.

'I am pleased to say we have injected the additional capital, rebanked and are now set to recommence on site on 7 January 2008 with a view to complete in May.

'Local architects McMillan and Cronin have been appointed award-winning designers Thompson Macleod have been tasked to design the interiors caputring the past and creating an art deco feel to the iconic building recognising the great insight the Nardini family had when creating the cafe back in 1934.' In response to questioning from Mr Andrew Fraser of NAC Legal department as to an opening date, Mr Fox said: 'We hope to complete it in early May and potentially open the first week in June.' The director pointed out that he had been advised not to say anything but pointed out that the lack of progress had fuelled speculation as to the future of Nardini"s.

He said: 'We were advised not to say anything. There was so much speculation. We did not want to fuel the fire anymore than what was going on at the time.' North Ayrshire Provost Bobby Rae said: 'You said you did not reply to anything because you had nothing to talk about but if you had told us that you were taking time over re-financing, we would have been sympathetic. We have had dealings with banks in the past and we know how difficult it can be.' Largs councillor Elisabethe Marshall said: 'I phoned you once or twice and phone calls were not returned.' Largs councillor Alex Gallagher said: 'We will continue to monitor developments with interest. We expect to see it delivered on time. You have to resolve matters. Communications have been poor. I want to know what guarantees you can give the people of Largs that it will be a fully restored facility and run through the next tourist season.' Mr Fox said: 'It is our intention to do it. This is a commercial enterprise and not a public project. We will do our best to deliver and we hope the public support it. We have ran into many problems over the course including Historic Scotland. We are committed to doing it.' Speaking after the meeting, Provost Rae added: 'The current directors have got to open it next year because they are tied to the bank. The whole point of what we were trying to achieve was to get the project under way. If it went to compulsory purchase it could take another two years. John Fox is offering Nardini"s up and running by May, it will probably go to June. They have given us a firm commencement date, 7 January, and given us most of the banking details in the sense of how much they are putting into it.'