Cladding panel maker goes downCladding designer and manufacturer PSP Architectural Ltd has gone into administration alongside sister firms PSP Aluminium Ltd and Pressed Steel Products Limited.
The failure of the County Durham based group has led to 84 redundancies.
James Lumb and James Clark of Interpath are now in charge of the business and are actively seeking buyers.
Architectural and…
Balfour Beatty acts to head-off ISG contagion in supply chainBalfour Beatty is offering a lifeline to its supply chain subcontractors impacted by the collapse of ISG.
The firm is aiming to stop any contagion from ISG’s collapse spreading to its own projects.
The move to support cash-strapped subcontractors comes amid widening concern that scores of firms have been seriously hit.
Already…
Canary Wharf Contractors break ground on Europe’s tallest labConstruction of Europe’s tallest and most technically sophisticated commercial lab buildings has started on site at Canary Wharf in London Docklands.
Architects KPF designed One North Quay as a 23-storey ‘vertical science campus’ that will rank as Europe’s tallest purpose-built lab space.
The 823,000 sq ft project is being…
100 jobs lost as ESS Modular goes into administrationHull-based offsite specialist ESS Modular is now in administration with the loss of around 100 jobs.
Tim Vance, Charles King and Andrew Dolliver of EY-Parthenon’s Turnaround & Restructuring Strategy have been appointed as Joint Administrators to trading company Extraspace Solutions (UK) Limited and its subsidiary Spatial Initiativ…
ISG supply chain facing £700m+ hitFinal accounts posted by ISG before its collapse into administration show the company owed more than £700m to suppliers.
The “trade and other” payables total for the year to December 31 2022 was £710.3m and is an indication of how much could be owed to creditors now the contractor has collapsed.
The 2022 annual report showed a turnover of £2.18bn…
ISG bonding losses contained at £60mThe fallout from the collapse of ISG in the bonding market is likely to be less severe than many firms feared.
Sources say surety providers have managed to contain losses at around £60m.
While its still represents a big hit for the bonding market after two already torrid years, the exposure is well below the £160m body blow suffered by bond providers when…
Carey family confirm death of co-founder John CareyFormer Carey Group chairman and co-founder John Carey has died.
The Carey family confirmed he died on Sunday morning aged 83.
John Carey and his two brothers Tom and Pat started the firm in 1969 after moving to London from Ireland.
The “three brothers and a van” started a groundworks contracting company called PJ Carey Plant Hire (Oval) Ltd…
2,200 jobs go as administrator takes charge at ISGAdministrators from EY officially took control of ISG on Friday afternoon making 2,200 staff redundant.
Timothy Graham Vance, Alan Michael Hudson and Dan Edkins of EY-Parthenon’s Turnaround & Restructuring Strategy have been appointed as Joint Administrators to eight UK trading entities of ISG – ISG Central Services Limited, ISG Interior…
Winners named for Wessex Water £3.7bn AMP8 dealWessex Water has named the line-up of contractors and consultants it plans to use to deliver a £3.7bn capital investment framework for the AMP8 control period starting in April 2025.
Kier secured spots on the three key contractor lots with Mott MacDonald Bentley and Galliford Try securing two lots each.
The appointments will support Wessex Water in…
Funding green light for £96m Liverpool Baltic Station planLiverpool City Region Combined Authority has given the go-ahead for a £96m funding package to build the Liverpool Baltic station.
The decision paves the way for a planning application to be submitted to Liverpool City Council in October.
Pending approvals from the Department for Transport, construction would begin next year, with t…