ISG collapse 'devastating' for construction industry

Published On Sep 23, 2024, 3:56 AM

The collapse of ISG, a major UK construction firm, is causing significant concern within the construction sector, with potential ripple effects that could threaten other companies, particularly smaller firms reliant on ISG for payments. ISG's financial struggles, including losses from large contracts, led to its administration and the immediate redundancy of 2,200 employees. The industry faces challenges due to thin profit margins and the impact of halted projects, raising alarms about the stability of employment in the sector and the need for better accountability in construction finances.