ISG’s collapse: a huge blow to construction that raises urgent and difficult questions

By Chloë McCulloch2024-09-20T11:28:00

This is the biggest collapse to hit the sector since Carillion – as we absorb the grim news, people will want some answers and fast

For ISG the worst has now happened. Filing for administration will come as devastating news to its 2,000-plus staff and countless suppliers and subcontractors will now be bracing themselves for substantial financial losses. This is a truly grim place to be.

We have heard for some time that ISG was in financial difficulties, but hopes of a rescue deal were raised back in July when staff were informed by the chairman of an imminent sale.

Now we are faced with the biggest collapse the construction sector has seen since Carillion went into compulsory liquidation in 2018, and like then the implications are huge.

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