ISG

Mace has picked up a bumper project that was left in limbo after ISG’s collapse in September. The contractor will finish the work ISG began on a neuroscience building for University College London (UCL). ISG was appointed to the £300m job, at 256 Grays Inn Road, in 2019 – and…

Administrators have estimated ISG's fit out business owes £111.4m to the supply chain, bringing the total across the firm to more than £301m. Companies House today (28 October) published a statement of affairs relating to ISG Fit Out Ltd – the final of the six ISG subsidiaries which went into…

A replacement has been named on a part-completed leisure centre where ISG had been main contractor. North East Derbyshire Council announced this week that its development partner Alliance Leisure had appointed Nottingham-headquartered Universal Civils & Build to finish the Clay Cross Active scheme in Chesterfield. The job, estimated to be…

'Former employees' of ISG are owed at least £72.3m by the collapsed contractor, administrators for the collapsed firm have calculated. Statements of affairs for seven of the eight ISG subsidiaries that entered administration in September were published on Companies House this weekend. They also show that HMRC is owed £54.4m…

Administrators have identified more than £190m in losses for ISG’s supply chain in their statutory analysis of all but one of the doomed contractor's eight subsidiaries that went under last month. Statements of affairs for seven of the eight ISG firms that entered administration last month were lodged with Companies…

Creditors of five ISG subsidiaries are unlikely to receive any money owed by the collapsed firm, administrators have warned. In a letter sent on 30 September to creditors of five of the eight subsidiaries, Timothy Vance and Alan Michael Hudson from EY-Parthenon said they did not expect to recover any…

Contractors may find it harder to access finance as providers reassess risk in the wake of ISG’s collapse, sector experts have warned. The £2.2bn-turnover firm – ranked 6th in the latest CN100 rankings – called in administrators from Ernst & Young last week. ISG’s UK operations ceased trading with "immediate…

Leading industry figures have renewed calls for industry reform after the “body blow” of ISG’s collapse. The £2.2bn-turnover firm – ranked 6th in the latest CN100 rankings – called in administrators from Ernst & Young on 19 September. Its UK operations ceased trading with “immediate effect” with the loss of…

Clients are scrambling to reappoint contractors after ISG’s UK subsidiaries filed for administration. Some have moved to secure the safety of sites while others have sought to reassure the public they are taking steps to manage the impact, including finding firms to finish jobs. Queen Square – £281.6m One of…

The government has said it will do “all it can” to support those affected by ISG’s collapse as it offers redundancy pay for former ISG staff. In a statement today (24 September) on its website, the Insolvency Service said those who worked under an employment contract for any of the…