Huge construction implications following ISG collapse

Global construction, fit out and engineering company ISG has entered into administration, leaving thousands without a job as well as subcontractors and the supply chain with significant debt.

ISG chief executive Zoe Price wrote to all staff to confirm the company’s administration and spell out what will happen going forward, however many were understood to have felt “bewildered” and “betrayed”.

Described as the biggest corporate construction failure since Carillion, questions are now being asked of the ISG leadership team who had promised a deal had been struck to sell the business four months previous in July.

According to industry tracker Glenigan, ISG’s workload includes 34 contract awards worth a combined total of £4.15 billion.

The six companies that have applied for administration are: ISG Construction Ltd, ISG Engineering Services Ltd, ISG Jackson Ltd ISG Retail Limited, ISG UK Retail Ltd and ISG Central Services Ltd.

Read the ISG statement here