6
6feetdown
Well-known member
Had a few schools in Caredifff tooit's official ......
More than 2,000 jobs lost as ISG collapses
ISG’s UK operations have ceased to trade with the company having gone into administration.www.theconstructionindex.co.uk
" ISG has 22 live contracts with the public sector worth £1.15bn. The most valuable is a £518m Ministry of Defence contract ..... nine live contracts with the Ministry of Justice, worth a combined £422m. The largest of these is for four new prisons, worth £300m to the company "
" 17 construction companies are now going insolvent every working day. .......... "
pettsy
Well-known member
Someone been posting on old girls of plant about fox being taken over. They compared it to Hewden who were bought then asset stripped 
Lancs Lad
Well-known member
Hmm heard a few things let's see...but if it's true it may not bode wellSomeone been posting on old girls of plant about fox being taken over. They compared it to Hewden who were bought then asset stripped
6
6feetdown
Well-known member
Hewdens we're a good company always had good kit and service off them until they were taken overSomeone been posting on old girls of plant about fox being taken over. They compared it to Hewden who were bought then asset stripped
hiluxman
Well-known member
They were part of finning weren't they at some point?
Quattromike
Well member-known
The ISG crew have a job locally at a distillery round by us, apparently some of the subbies walk off the job a while ago as weren't getting paid 
6
6feetdown
Well-known member
Not sure but they definitely had a link as a lot of their kit was cat
V8Druid
do it as well as you can,but learn to do it better
didn't take this muppet long to jump ship ... declared bust this morning ... new job by the end of the day - stinks 
.. obviously saw it coming some time ago
www.building.co.uk
www.constructionenquirer.com
.. obviously saw it coming some time ago
Former ISG chief Matt Blowers joins Structure Tone
US firm's London staff told this afternoon that Blowers is joing with immediate effect
www.building.co.uk
Former ISG chief joins fit-out firm Structure Tone
Ex ISG chief executive Matt Blowers appointed joint managing director
www.constructionenquirer.com
Last edited:
Vinpetrol
Well-known member
didn't take this muppet log to jump ship ... declared bust this morning ... new job by the end of the day - stinks
Former ISG chief Matt Blowers joins Structure Tone
US firm's London staff told this afternoon that Blowers is joing with immediate effect
Former ISG chief joins fit-out firm Structure Tone
Ex ISG chief executive Matt Blowers appointed joint managing director
It really stinks , the new company is lined up to take on some off the projects left by ISG likely at an inflated price as well .
William127
Well-known member
Guy I put the acoustic enclosures in for was supposed to go and do the final measurements for a job on an ISG site last week. Luckily he heard they were in trouble and put it off, otherwise he'd have ordered a 30k job with no chance of getting paid..The ISG crew have a job locally at a distillery round by us, apparently some of the subbies walk off the job a while ago as weren't getting paid
Hes got 2 jobs in storage from when Lansgrove went down, currently trying to talk to the end clients and deal with them direct.
Too many middlemen, managers and sub sub sub contractors these days, all taking their cuts while sitting on an a knife edge it seems
doobin
Well-known member
That's totally it. The job is f***ed.Guy I put the acoustic enclosures in for was supposed to go and do the final measurements for a job on an ISG site last week. Luckily he heard they were in trouble and put it off, otherwise he'd have ordered a 30k job with no chance of getting paid..
Hes got 2 jobs in storage from when Lansgrove went down, currently trying to talk to the end clients and deal with them direct.
Too many middlemen, managers and sub sub sub contractors these days, all taking their cuts while sitting on an a knife edge it seems
V8Druid
do it as well as you can,but learn to do it better
Fit-out firm Beck ‘owed £16m in contract dispute’ as unsecured creditors hit for £69m
Part of business sold under pre-pack deal saving 70 jobs as firm says it was hit by 'liquidity challenges because of customer dispute'
www.building.co.uk
" Fit-out firm Beck ‘owed £16m in contract dispute’ as unsecured creditors hit for £69m "
that money has gone somewhere!!!!!!!
TiltyShaun
Well-known member
They were indeed. I seem to remember trying to sell machines and also hire machines out to compete with the guys you where selling them to did t go down very well!!
Same route Hitachi has found that it upsets your client base!!
TiltyShaun
Well-known member
Mr Fox has reinvested in the new set up.
V8Druid
do it as well as you can,but learn to do it better
retained 20% stake, I think the article said
TiltyShaun
Well-known member
I don’t know the set up at Fox. But I guess it was a way of paying off the rest of the family and letting the main man head off in a direction the others didn’t want to risk.
I follow the Ashville Aggregates story on YouTube. Having big plans is great. But sometimes you need a big wallet to fund making a little money.
Will be interesting to see how the Fox plans for the Luigong dealerships progress. I remember Molsons 25 years ago where just a pimple of the size they are now.
V8Druid
do it as well as you can,but learn to do it better
and the next one .......
www.theconstructionindex.co.uk
" ESS was acquired by ISG in March 2022 but within months it was hived off and ownership was transferred to parent company Cathexis Holdings, the investment vehicle of 39-year-old Texan billionaire William Harrison ..... But with ISG down, so too now is ESS. "
" ESS was one of six suppliers selected last month for a Defence Infrastructure Organisation framework supplying single living accommodation for the armed forces. " so why are the ppl responsible for these procurements not delving deeper into these companies financial health, when awarding these contracts ? .. oh sorry .. brown envelopes make them blind
ESS follows ISG into administration
Modular builder Extraspace Solutions ( (ESS) and subsidiary Spatial Initiative have followed sister company ISG into administration.
www.theconstructionindex.co.uk
" ESS was acquired by ISG in March 2022 but within months it was hived off and ownership was transferred to parent company Cathexis Holdings, the investment vehicle of 39-year-old Texan billionaire William Harrison ..... But with ISG down, so too now is ESS. "
" ESS was one of six suppliers selected last month for a Defence Infrastructure Organisation framework supplying single living accommodation for the armed forces. " so why are the ppl responsible for these procurements not delving deeper into these companies financial health, when awarding these contracts ? .. oh sorry .. brown envelopes make them blind
V8Druid
do it as well as you can,but learn to do it better
" Construction contracts monitor Glenigan says that its data shows the impact of ISG’s collapse is far worse than initial figures had suggested. "
https://www.theconstructionindex.co.uk/news/view/impact-of-isg-collapse-worse-than-feared" Overall ISG currently has projects totalling over £2.5bn on site and has been awarded contracts on a further £1.7bn of work yet to start.
This means that 33 awarded contracts, 57 projects in progress on-site and three imminent completion have been left up in the air. This includes:
- Fujifilm Diosynth Biotechnologies Facility in Billingham, Cleveland – a £200m contract
- Slough Data Centre Campus Phase 2, Berkshire – £200m
- Institute of Neurology for University College London – £158m
- A data centre for Vantage Data Centers in Ealing – £150m
- A data centre for Colt Data Center Services in Hillingdon – £150m.
Amount of money needed to fix ISG’s finances ‘way bigger’ than first thought, entrepreneur who tried to buy firm says
Andre Redinger says stricken contractor's liabilities were 'three or four times' amount he first offered, leading to reduced bid this month
www.building.co.uk
" Andre Redinger says stricken contractor’s liabilities were ‘three or four times’ amount he first offered, leading to reduced bid this month "
6
6feetdown
Well-known member
Ye Ashville are spending some coin on the yard will be superb when done build it up then sell it few years down the line. Tbf Daniel works hard at it too
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