ISG Construction Group Files for Administration, Thousands of Jobs at Risk

The UK-based company, involved in major government projects, has ceased trading after failing to secure a rescue deal.

ISG, one of the UK's largest construction firms, has entered administration, putting approximately 2,400 jobs at immediate risk.
The company has halted all operations, including 69 live government projects worth over £1 billion, such as prison expansions and school buildings.
EY has been appointed as the administrator to manage the insolvency and will retain around 200 employees to assist with the process.
CEO Zoe Price cited legacy issues from lossmaking contracts between 2018 and 2020 as the primary reason for the company's financial difficulties.
Efforts to find a buyer, including negotiations with investment firm Antipodean Holdings, were unsuccessful, leading to the collapse.