ISG Central Services Limited (02997684): administration
- Status
- In administration
- Administration began
- 2024-09-20
- Administrators
- Timothy Vance, Alan Michael Hudson
- Administrators' firm
- Ey
- Formerly
- ISG Central Services PLC; ISG PLC; Interior Services (Group) PLC; ISG PLC; Interior Services Group PLC; Interior (Holdings) Limited; Hackremco (No.995) Limited
- Incorporated
- 1994-12-02
- Location
- London
- Industry
- 70100 Activities of head offices
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Cash flow / liquidity pressure
- Rising costs / inflation
- Loss-making contracts / project overruns
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Credit insurance / supplier credit withdrawn
From the administrators' statement
All of the Companies are part of the ISG Group which includes ISG Limited and its subsidiaries (“the Group”). The Group is an international construction services company operating in the United Kingdom, Europe, Asia and the Middle East. Across these jurisdictions, the majority of the Group’s operations are focused in the United Kingdom.
The UK entities within the Group (“the UK Group”) operated out of multiple office locations (alongside temporary project accommodation and storage units) with the head office being at Aldgate House, 33 Aldgate High Street, London, EC3N 1AG, which was also the former registered office of the Companies. Other significant offices were located in Ipswich, Bradford, Bristol, Reading, Whitstable, Manchester, Glasgow, Cardiff and Birmingham. The Group also had 14 offices across Europe and the Middle East through its overseas subsidiaries.
The Group was one of the largest construction contractors in Europe with annual global revenues in excess of £2 billion. The Group was also a significant provider of construction related services to the UK Government and a large provider to the Ministry of Justice, primarily in respect of the construction of prisons.
Administrators' statement of proposals (2024-11-28) · Companies House register