ISG suppliers facing initial £180m hit
ISG suppliers facing initial £180m hit
Administrators sifting through the rubble of the ISG collapse have already identified £180m in unpaid bills for the failed contractor’s supply chain.
Updates posted at Companies House cover all of the group’s defunct businesses apart from the fit-out division.
An initial statement of affairs for the main construction division, signed-off by CEO Zoe Price, shows current claims of £89.8m from trade creditors.
The list of hundreds of firms includes 13 subcontractors owed more than £1m each.
At ISG Engineering Services trade creditors are owed £60m while the figure is £28m at ISG Retail.
Industry experts said the bill for the supply chain is expected to rise considerably as more claims are lodged in the coming months.
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