ISG Fit Out arm went down owing subbies £111mAdministrators from ISG have identified another £111m in debts owed to suppliers from collapsed contractor ISG’s fit out division.
A filing at companies house shows hundreds of subcontractors and suppliers owed cash by ISG fit-out – with one electrical contractor alone owed more than £20m.
The latest debts are on top of the £180m already…
Construction to grow 2.5% next yearConstruction forecasters are expecting the industry to rebound next year after a tough 18 months.
Economists at the Construction Products Association said cautious optimism is returning to the industry, led by an improving outlook for private housing and hopes for infrastructure spending growth next year.
Overall, total construction output is forecast to rise by…
Chancellor finds over £1bn for new schools and social homesChancellor Rachel Reeves will announce in Wednesday’s Budget an extra £550m next year to get the school building programme on track and an extra £500m to boost affordable housing.
The extra spending on schools will lift next year’s school building programme spend up to £1.4bn.
Her cash injection aims to get the 10-year rebuilding…
ISG collapse brings down lighting specialistThe collapse of ISG is being blamed for the fall into administration of a specialist lighting contractor.
Forvis Mazars has been appointed as Joint Administrator of Cheltenham-based Seventynine Lighting Ltd which has been in business since 2006.
The company has worked on a string of retail and commercial fit-outs as a lighting design and installation…
Debt rule change to salvage infrastructure spend plansChancellor Rachel Reeve has confirmed the Government will make a technical change to the way debt is measured to release billions to boost infrastructure investment.
The wider debt measure is expected to allow for up to £50bn more borrowing to invest in big projects in roads, railways or hospitals.
Under previous government spending…
Roofer thrown from basket after bus hits cherry pickerA construction company has been fined £215,000 after a worker was seriously injured when a cherry picker was struck by a bus in Castlemilk, Glasgow.
North Ayrshire based McTaggart Construction Limited pleaded guilty to safety charges at Glasgow Sheriff Court after failing to take steps to ensure the safety of workers.
The prosecutor told t…
Construction to be standalone business as Stepnell demergesStepnell Group has announced a demerger splitting the construction, property management and property investment elements of the business.
The move will see shareholders Peter Wakeford, Tom Wakeford, Ed Wakeford and David Wakeford each owning companies within the current Stepnell Group – reflecting their expertise and boosting…
Cladding firm M Price felled by post-Grenfell defects claimLeading facade specialist M Price Group fell into administration after it lost a claim brought by Barratt Homes for defective cladding installed over 11 years ago.
The Enfield-based contractor was already struggling after Covid loan repayments and soaring costs on fixed-price contracts.
The 143-year-old group made and installed aluminium…
Barratt go-ahead for 260 flats at old London gas worksBarratt London has got the planning green light to build more than 260 flats at a former South London gas works site.
The six-block mid-rise scheme in Sydenham was designed by dMFK Architects taking inspiration from the neighbouring Grade II Listed Livesey Memorial Hall.
Located at the gateway to a retail park, the Bell Green Works plot…
McAlpine confirms M&E team at £4bn gigafactoryNG Bailey and TClarke have been confirmed as the two MEP partners for the delivery of the new £4bn Agratas gigafactory in Somerset which will make car batteries for Jaguar Land Rover,
Sir Robert McAlpine is building the first of three major units at the UK’s biggest planned EV battery factory at Bridgwater for Tata-owned Agratas
NG Bailey w…