Administrators from EY officially took control of ISG on Friday afternoon making 2,200 staff redundant. Timothy Graham Vance, Alan Michael Hudson and Dan Edkins of EY-Parthenon’s Turnaround & Restructuring Strategy have been appointed as Joint Administrators to eight UK trading entities of ISG – ISG Central Services Limited, ISG Interior Services Group UK Limited, ISG
The government’s prison building programme is facing delays following the failure of ISG. ISG is one of the biggest players in prison upgrade and new construction work as the country faces a chronic shortage of cells with offenders being released early from overcrowded jails. The contractor started work earlier this year on a combined £135m
The prospective South African buyer in talks to save ISG claims the contractor’s management team walked away from a deal to save the business. The sensational revelation that a ‘fair deal’ was on the table emerged today as the prospective buyer Antopodean Holdings issued a statement at odds with ISG’s board account of events leading
Anglian Water is starting market engagement with all-tier contractors on its ambitious plan to build two major reservoir projects. The £5bn Lincolnshire and Fens Reservoir Programme is expected to go out to tender on in January 2027. Anglian procurement chief are now seeking to engage interested firms to inform the main works contract procurement and
Persimmon has written-off the £25m it invested in modular house builder TopHat last year. In its latest results Persimmon said the decision was due to “a re-assessment of risks within the modular build sector”. But Persimmon is continuing to work with TopHat as it looks to boost output at its offsite Brickworks, Tileworks and timber
Morgan Sindall has posted a record set of half-year results and is on course to beat market expectations for the full year. The listed contractor has seen its share price surge by more than 50% in the past 12 months as it continues to impress the city. Today’s results for the half year to June
Preston-based Conlon has moved to an Employee-Ownership Trust. The move sees Conlon Holdings Limited – including Conlon Construction – now owned by its 72 staff. The formerly family-owned firm was established in 1961 when the ‘founding fathers’ – the five Conlon brothers – were working on The Preston Bypass which is now the M6. Chairman,
A Canadian investor has taken a significant stake in £292m turnover cost consultant Gardiner & Theobald. G&T said the deal with Hennick & Company would preserve its independence creating a platform for growth and expansion throughout the UK, US and Ireland. The size of the stake has not been disclosed but sees G&T continue as
Bowmer + Kirkland is expected to start construction this autumn on a 330-bed student accommodation project after the scheme received the thumbs up from planners. Canada Life Asset Management is working in partnership with the University of the West of England, Bristol to develop the building on the former B&Q garden centre site at Filton
Consultant Turner & Townsend delivered a record year with pre-tax profit jumping 45% to £200m, Global net revenue rose a fifth to £1.3bn as growth was delivered in all seven regions, with particularly strong workload increases in the Americas, Middle East and Asia. The year ending April 2024 marked the the first full year of
