ISG

A “very senior” industry figure had agreed to become ISG’s new chairperson, according to the man leading the doomed attempt to buy the business. Andre Redinger, director of Antipodean Holdings, the firm formed earlier this year to complete the proposed takeover, revealed the detail during an exclusive interview with Construction…

The Construction Leadership Council (CLC) has urged contractors to pay promptly as the collapse of ISG threatens to wreak havoc along supply chains.  In a statement issued on Friday (20 September), the body revealed it had held an emergency meeting with its sponsor, the Department for Business and Trade, to…

ISG chief executive Zoe Price has apologised to staff and suppliers and said the company has filed for administration due to loss-making contracts signed before the Covid pandemic.  In a Thursday evening (20 September) email sent to almost 3,000 employees, Price said that the group’s “trading and cash performance has…

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, its chief executive confirmed last night in an email to staff and suppliers, after CN revealed six subsidiaries…

Recriminations over the collapsed deal to sell ISG have broken out between the contractor and the firm that had been negotiating to buy it. The disagreement over the reasons for the failed sale came after Construction News last night broke the news that six ISG companies had applied to enter…

Six UK subsidiaries of the country's sixth largest contractor ISG - including ISG Construction - have applied to enter administration. Following months of speculation, which reached a crescendo online in recent days, the subsidiaries of the £2.2bn contractor filed court applications this afternoon. Parent company ISG Ltd has so far…

ISG paid £300,000 to subcontractor Alucraft Systems in a last-ditch attempt to save it from administration, Construction News can reveal.  But the glazing and facades specialist collapsed in March nonetheless.  The £300,000 payment in March this year was meant to shore up Alucraft as it struggled under the weight of…

ISG’s parent company Cathexis is set to sell the sixth-biggest UK contractor after eight years, amid worries about the London-based firm's finances. ISG chair and Cathexis chief operating officer Matt Roche told stakeholders that the buyer, whose identity he did not disclose, would make a significant investment in the business.…

ISG is in line for a £13.9m hit following the liquidation of one of the UK’s largest envelope specialist brands. Private equity-backed Clarison Group was renamed TGCL 2024 Ltd at Companies House in March and filed a notice of liquidation this week. £85m-turnover Clarison was formally launched in 2021, joining…

ISG has picked up two prison contracts worth a combined £135m. The schemes at HMP Guys Marsh in Dorset and HMP Liverpool were procured through the Crown Commercial Service framework. They form part of the Ministry of Justice’s (MoJ’s) £4bn investment plan to create up to 20,000 new prison places.…