ISG heads for collapse, putting thousands of jobs at risk

Six of the contractor’s subsidiaries, including ISG Construction, applied to enter administration yesterday.

Currently the sixth-largest contractor in the UK with around 2,400 employees, ISG holds multiple contracts for the UK Government for building prisons and police stations, and counts Apple, Barclays and Google among its private sector clients.

Last year, ISG was appointed to oversee the extensive refurbishment of a multi-million-pound new distillery and visitor centre for whisky and gin distillery Eden Mill.

It is understood that EY is on standby to handle insolvency proceedings for eight ISG entities, including ISG Central Services and ISG Interior Services.

ISG reported revenue of £2.2 billion and pre-tax profits of £11.5 million, according to the latest accounts filed at Companies House.

It’s collapse would be the biggest casualty in the sector since Carillion went into liquidation in 2018.