Potential saviour did not have enough money to buy ISG, administrator says, as 2,000 jobs lost in collapse

By Tom Lowe2024-09-20T15:31:00

EY says buyer could not demonstrate they had funding despite “repeated requests” to do so

ISG’s potential saviour did not have enough money to buy the business, the firm’s administrator has revealed.

EY has been confirmed as administrator of the £2.2bn contractor which collapsed yesterday 11 weeks after announcing an imminent sale to a South African businessman.

…

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community