ISG

More than two thirds of ISG’s former staff are pursuing legal claims against over the way they were made redundant, according to administrators. In their latest update on the administration of eight ISG firms (see box below), published on Wednesday (30 April), EY’s Timothy Graham and Alan Hudson said they…

Eleven firms in the ISG family – including the UK holding company – entered liquidation rather than appointing administrators, Construction News can reveal. In September, accountancy firm EY was appointed as the administrator for eight of ISG’s most well-known companies after the £2.2bn-turnover firm’s collapse that month. New analysis by CN…

A modular specialist owned by ISG’s parent firm, Cathexis, owed £70m to the supply chain when it went under days after ISG’s collapse. ESS Modular appointed administrators four days after ISG’s subsidiaries called in Ernst & Young (EY) to administer its affairs. EY was also appointed to lead ESS Modular’s…

Plans for the UK’s largest film studio, which would have been built by collapsed contractor ISG, have officially been scrapped. The £700m Sunset Waltham Cross Studios project, just off the M25 in Hertfordshire, was meant to be developed by Blackstone and US-studio firm Hudson Pacific Properties. Announced in 2021, the…

ISG Ltd’s auditors say they will “cooperate fully” with an investigation that has been launched by the Financial Reporting Council (FRC) into the firm’s final set of annual results. The FRC said yesterday (18 March) that it had “commenced an investigation” into chartered accountancy firm MacIntyre Hudson (which trades as…

Graham has taken over a £44m former ISG project to turn a former retail outlet into a cultural hub. The City Centre Cultural Gateway project is set to see a seven-storey former Ikea store in Coventry retrofitted with gallery and collections space, as well as a cafe, library, dance studio,…

Morris & Spottiswood has taken over completion of an £8m distillery left unifinished when ISG Construction collapsed. Work on the Elixir Distillers’ Portintruan Distillery on Islay (pictured), in the Inner Hebrides, stalled when the contracting giant when under in September last year. Glasgow-headquartered Morris & Spottiswood revealed it had taken…

A housing association is planning to demolish a housing block, after ISG’s collapse into administration stymied an attempted £4m claim over alleged defects. At the time of ISG’s demise, Elim Housing Association had been pursuing ISG Pearce in the claim relating to Bouverie Court, a 21-home site in Bristol. But…

Speller Metcalfe has been chosen as preferred contractor on a £24m leisure centre build that was due to be delivered by ISG. Sandwell Council in the West Midlands is poised to sign off a plan to redesign and rebuild the Haden Hill Leisure Centre in Cradley Heath, after the scheme…

The collapse of ISG will cost the Ministry of Justice (MoJ) an estimated £300m on its new prisons programme, and will have an even bigger impact on fire-safety remediation work. At a hearing before the House of Commons Public Accounts Committee yesterday (27 January), senior civil servants detailed the impact…