Eight ISG administrations extended to 2028
Summary
The administrations of eight collapsed ISG companies have been extended for a further two years, meaning the insolvency process is now expected to continue until at least September 2028. Administrators at EY say the extra time is needed to deal with outstanding claims, creditor payments and the large volume of records associated with the group’s collapse.
Why it matters
This is relevant to surveyors because it highlights the prolonged fallout from a major contractor insolvency, including unresolved claims and creditor recoveries that may affect project close-out, subcontractor exposure and documentation trails. It also underlines the scale of risk when working with large main contractors and their supply chains.
Key points
- Eight ISG companies entered administration in September 2024 and have now had the process extended again.
- EY says the extensions are needed to resolve outstanding claims and creditor payments.
- The administrations involve more than 800 terabytes of records and very limited recoveries for unsecured creditors.
- HMRC and the Redundancy Payments Service are among the significant creditors mentioned.
- The collapse led to more than 2,000 immediate job losses.
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