ISG

2024 - 9 - 19

ISG UK Subsidiaries in Hot Water: What You Need to Know!

isg administration -- isg construction Administration - Carillion - Construction - Financial Crisis - ISG - Subcontractors - UK Government - Zoe Price - isg administration - isg construction

Six subsidiaries of ISG UK are seeking administration, but what does this mean for the construction industry? Dive in for the juicy details!

In a dramatic twist in the construction landscape, six subsidiaries of ISG, the sixth-largest contractor in the UK, have applied for administration. This shocking news sent ripples through the industry, particularly impacting ISG Construction. After months of financial struggles, these subsidiaries, including some key players in the ISG family, have decided it was time to face the music, raising eyebrows and concerns in the sector.

The timeline leading up to this decision has been like a well-scripted drama. There were whispers about potential difficulties swirling around ISG’s finances, but no one expected it to culminate in administration notices. Late Thursday afternoon saw the filing of these notices, leaving employees, clients, and suppliers scrambling for news and answers. The big question everyone is asking is: What do these filings mean for ongoing projects and the wider construction industry in the UK?

Industry insiders are already speculating on the implications of this move. With UK construction facing challenges galore—from supply chain disruptions to fluctuating material costs—this development could exacerbate existing issues or, surprisingly, lead to a shake-up that could pave the way for more resilient practices in the sector. However, even in these turbulent times, construction remains a vibrant part of the UK economy, known for its ability to bounce back from setbacks.

In times like these, you might wonder why filing for administration can sometimes feel like hitting the refresh button. For instance, did you know that players in the industry can emerge from administration with a stronger footing? It’s a bit like spring cleaning, clearing out what doesn’t work and reinforcing the good stuff! Moreover, ISG's legacy goes beyond just brick and mortar; they have been instrumental in constructing iconic buildings in the UK. Their history is filled with both successes and challenges, making this latest development a crucial point of reflection for the entire construction sector.

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Image courtesy of "Construction News"

ISG UK subsidiaries apply for administration (Construction News)

Six UK subsidiaries of the country's sixth largest contractor ISG - including ISG Construction - have applied to enter administration. Following months of.

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Image courtesy of "Construction Enquirer"

ISG files notice of administration (Construction Enquirer)

Six subsidiaries of main contractor ISG have filed notices to enter administration. The firms that filed notices late on Thursday afternoon are: ISG ...

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Image courtesy of "Building"

ISG firms set to go into administration (Building)

Day of febrile speculation sees six subsidiaries apply for administration late this afternoon. Six ISG companies have applied to go into administration, ...

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Image courtesy of "Construction Enquirer"

“Strung along” subcontractors fury over fall of ISG (Construction Enquirer)

Subcontractors and suppliers facing huge debts over the failure of ISG have slammed the firm for “stringing them along” for months.

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Image courtesy of "Construction Enquirer"

ISG boss apologises to staff in late night email (Construction Enquirer)

ISG chief executive Zoe Price wrote to all staff last night to confirm the company's administration and spell out what will happen going forward.

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Image courtesy of "Building"

Offices closed and sites shut as ISG set to file for administration ... (Building)

Contractor to go under two months after firm's chairman said rescue deal was 'days away'. ISG's chief executive has confirmed that the company is set to go ...

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Image courtesy of "The Construction Index"

ISG heads for administration (The Construction Index)

Six ISG companies have filed notice of intent to appoint administrators: ISG Construction Limited, ISG Engineering Services Limited, ISG Retail Limited, ...

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Image courtesy of "Pro Landscaper Magazine"

Time runs out as ISG heads into administration - Pro Landscaper ... (Pro Landscaper Magazine)

ISG has shut its offices and sites with immediate effect and will go into administration, chief executive Zoe Price told staff last night.

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Image courtesy of "Sky News"

Whitehall on alert as construction group ISG heads for collapse (Sky News)

ISG, which builds prisons and police stations, employs 2400 people and is being closely monitored by the Cabinet Office as it heads for administration, ...

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Image courtesy of "Place North West"

ISG appoints administrators - Place North West (Place North West)

The construction industry has been left reeling by the sector's largest failure since Carillion. After months of speculation about the financial health of ...

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Image courtesy of "Construction News"

War of words over collapsed ISG sale (Construction News)

Antipodean Holdings, set up earlier this year by South African entrepreneur Andre Rudiger and Australian James Overton, had been in negotiations with ISG's US owner Cathexis for more than six months in a bid to acquire the company. In an email to staff ...

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Image courtesy of "Construction News"

Exclusive: ISG collapse risks £1.84bn of government contracts (Construction News)

Contractor ISG held at least £1.84bn in government contracts before its collapse, causing a headache for the prison-building programme, Construction News can reveal. The UK's sixth-biggest contractor will soon go into administration, ...

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Image courtesy of "Construction Enquirer"

ISG buyer claims contractor walked away from deal (Construction Enquirer)

Antipodean Holdings director Andre Redinger said: “We had been working on the deal for over six months and despite finances being in place, ISG has chosen to go ...

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Image courtesy of "ScaffMag"

NASC Urges Government to Protect Scaffolding Firms Following ISG ... (ScaffMag)

The NASC has called on the UK Government to step in and protect small and medium-sized scaffolding contractors following the sudden collapse of ISG, ...

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Image courtesy of "Housing Today"

Contracting giant in £7.7m payment dispute with Home Group set to ... (Housing Today)

ISG, a £2bn-turnover construction, fit-out and engineering firm, has announced it will file for administration after attempts to find a buyer for the business ...

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Image courtesy of "Scottish Construction Now"

ISG heads for collapse, putting thousands of jobs at risk (Scottish Construction Now)

ISG plc is expected to follow its subsidiary companies by entering administration today. Six of the contractor's subsidiaries, including ISG Construction, ...

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Image courtesy of "The Guardian"

More than 3000 jobs could be at risk as prison builder ISG heads for ... (The Guardian)

In the biggest collapse of a UK construction company since Carillion, the ISG chief executive, Zoe Price, confirmed in an email on Thursday that the company had ...

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Image courtesy of "Housing Today"

Contracting giant in payment dispute with Home Group set to go into ... (Housing Today)

ISG, a £2bn-turnover construction, fit-out and engineering firm, has announced it will file for administration after attempts to find a buyer for the business ...

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Image courtesy of "Building"

Clients told to move quickly to find replacements for ISG, or risk sites ... (Building)

Rivals say jobs novating jobs across as soon as possible will see mimimum delays.

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Image courtesy of "Building"

ISG staff vent frustration at firm's collapse after weeks of uncertainty (Building)

Calls for industry-wide reform to prevent further administrations as supply chain braces for impact of £2.2bn firm's administration.

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Image courtesy of "New Milton Advertiser and Lymington Times"

Construction firm ISG in administration in UK with around 2400 ... (New Milton Advertiser and Lymington Times)

The majority of its 2,400 employees have been made redundant after the UK business appointed joint administrators at EY, with trading stopping immediately. The ...

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Image courtesy of "Irvine Times"

Construction firm ISG in administration in UK with around 2400 ... (Irvine Times)

The construction group was in the middle of numerous government projects including work to prisons.

Ernst & Young appointed administrator at ISG (Construction Enquirer)

Administrators from EY officially took control of ISG on Friday afternoon making 2,200 staff redundant. Timothy Graham Vance, Alan Michael Hudson and Dan ...

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Image courtesy of "BBC News"

ISG: Construction giant collapse sees 2200 jobs cut (BBC News)

The UK operations of the construction group ISG collapsed into administration on Friday.

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