ISG’S UK OPERATIONS CEASE AS COMPANY ENTERED INTO ADMINISTRATION
The operations of the UK’s sixth largest contractor ISG, with a £2.2 billion turnover, have ceased after the company applied to enter administration late afternoon on Thursday 19th September 2024.
The impact will be felt by almost 2,500 employees and throughout the supply chain. The administrators, EY, have confirmed in a statement that no further work will be undertaken on existing contracts and all known creditors will be contacted in writing. With construction insolvencies at their highest level for over a decade, there are serious questions being raised about the industry’s business model.
The firms that filed notices are: ISG Construction Limited, ISG Engineering Services Limited, ISG Fit Out Limited, ISG Retail Limited, ISG UK Retail Limited, ISG Jackson Limited and ISG Central Services Limited.
For the apprentices and graduates who are directly employed by ISG, Build UK and the CITB have established a working group to ensure that placements can be found for as many people as possible. If you or someone you know is an apprentice or graduate directly employed by ISG, please contact info@builduk.org in the first instance.