FIS is aware of the unfolding situation with respect to ISG. As of today, our understanding is that ISG Construction Limited, ISG Engineering Services Limited, ISG Retail Limited, ISG Jackson Limited and ISG Central Services Limited have filed for administration.
It is important to note that ISG Fitout Limited (which accounts for around £500m and was profitable at the point of last filing) has not been included in the application. The parent company, ISG Limited, has, so far, not applied to the court. At this stage we do not have clarity on how these parts of the business will be impacted and you are advised to stay in close contact with your nominated contact if you are currently in contract.
Clearly this is an unsettling time for the supply chain and ISG staff members. FIS will be doing all we can to advise and support all involved.
If businesses are currently engaged by or are about to start work for any part of the ISG Group that has filed for administration, these contracts will be automatically terminated. FIS Commercial Advisers have indicated that it is highly likely that all affected ISG sites will be shut immediately. Any claim will be managed by the appointed administrator in due course. It is suggested that you still attend at your sites and recover any plant, site accommodation and any records that are currently on the sites.
If you are able to access site, then it is important that you take photographic, video and written records of your work in progress. These records will be invaluable in establishing the value of your “final account” and can be used for any negotiations with any main contractor who is brought in to complete the contract. You should prepare a schedule that shows a record of all outstanding payments including retentions and when these payments were due, if they are unpaid. If you’re currently in possession of materials that are required for the contract but have not been delivered to the site then make careful note of these and further advice will be provided in due course as matters unfold. You should avoid at all costs any damage to your completed works.
It will be helpful if you could send any information regarding the status of projects to FIS. In order to ensure we can provide the best possible advice and support, please forward any communications that you receive from the employer, the design team and also the Administrator in due course.
FIS and our advisors will do all we can to support members and we will be working with colleagues from across construction, Government and stakeholder groups to provide a united response in what is a very difficult time.
Our helpline can be accessed via 0121 707 0077 or you can Email: iainmcilwee@thefis.org with any questions or concerns that you have.
Apprentice and trainees who have been employed by ISG and are looking to source alternative employment should register their details with BuildUK who are co-ordinating this aspect of the industry response and please contact info@BuildUk.org. Other members of the team or employers in the sector who can offer alternative positions for trainees or employers, please email iainmcilwee@thefis.org.