{"id":88096,"date":"2024-09-26T07:25:16","date_gmt":"2024-09-26T07:25:16","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/uk-construction-giant-isg-goes-into-administration\/"},"modified":"2025-09-19T09:02:50","modified_gmt":"2025-09-19T09:02:50","slug":"uk-construction-giant-isg-goes-into-administration","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/uk-construction-giant-isg-goes-into-administration\/","title":{"rendered":"UK construction giant ISG goes into administration"},"content":{"rendered":"

UK construction giant ISG has gone into administration, sending shockwaves through its suppliers, customers and the wider construction industry.<\/span><\/p>\n

On 20 September, the following ISG Ltd companies went into administration \u2013 Central Services Limited, ISG Interior Services Group UK Limited, ISG Fit Out Limited, ISG Engineering Services Limited, ISG UK Retail Limited, ISG Retail Limited, ISG Construction Limited and ISG Jackson Limited.<\/p>\n

Timothy Vance, Alan Michael Hudson and Dan Edkins of EY were appointed as Joint Administrators.<\/p>\n

Administrators said ISG\u2019s UK operations have ceased to trade with immediate effect. No further work will be undertaken on existing UK contracts, including for construction, fit out and engineering services. About 2,000 jobs are believed to be threatened.<\/p>\n

The group has delivered notable projects including the London Olympics velodrome and is currently working on the fit out of the London Google headquarters at King\u2019s Cross.<\/p>\n

It was believed to be currently profitable, but its liquidity is believed to have been affected by several major contracts which incurred losses prior to the pandemic.<\/p>\n

ISG Ltd reported \u00a32.2bn revenue in the year ending December 31, 2022, and a \u00a311.5m pre-tax profit. At the time it reported net assets of \u00a3156m and net liabilities of \u00a350m. The fit-out business recorded revenue of \u00a3988m and EBITDA of \u00a332m. The construction division had revenue of \u00a31.192bn and EBITDA of \u00a34.8m.<\/p>","protected":false},"excerpt":{"rendered":"

UK construction giant ISG has gone into administration, sending shockwaves through its suppliers, customers and the wider construction industry. On 20 September, the following ISG Ltd companies went into administration \u2013 Central Services Limited, ISG Interior Services Group UK Limited, … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":96414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-88096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"\nUK construction giant ISG goes into administration - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/uk-construction-giant-isg-goes-into-administration\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK construction giant ISG goes into administration - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"UK construction giant ISG has gone into administration, sending shockwaves through its suppliers, customers and the wider construction industry. 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