The industry has taken to social media in reaction to news that thousands of people have lost their jobs after the UK operations of the international construction giant ISG collapsed into administration.
Some 2,200 workers were made redundant over a week ago following the news.
The business, owned by US firm Cathexis, had been struggling financially for some time.
Zoe Price, CEO, ISG confirmed the situation had arisen due to “legacy issues” relating to “large loss-making contracts” secured between 2018 and 2020 adding: “Trading out these projects has had a significant effect on our liquidity. So even though we have been profitable this year, our legacy has led us to a point where we have been unable to continue trading.”
“Devastating news regarding ISG. After Tolent, Readie, Buckingham and MJ Londsdale, this is another heavy blow for the UK construction industry,” said Rory Stewart, sales executive, LEEA registered technician, Lifting Gear Products.
“Action needs to be taken to protect SMEs and subcontractors working for so called ‘Tier 1 Contractors’ at all stages of the supply chain, we cannot keep allowing huge companies to drag smaller ones down with them in this fashion.
“My heart goes out to all the people affected across the industry.”
Danny Kendrick, MD, Kendley steel specialists, mobile cranes and lifting services said “We will miss ISG as a company and the great jobs we have worked on all over the country working with fantastic people. Sad to see them fall. Hopefully we will see all of these good people working for others very soon and we cross paths working together in the near future.”
David Prior, Building Services Manager, ISG, said: “Following the sad demise of ISG I’m only just waking up to the apparent ageism that occurs for people towards the end of their careers and that they tend to get the short straw when seeking employment.
“May I just stress on their behalf to all those out there seeking staff for the benefit of their businesses to remember that you cannot put a price on experience, all my career I have always looked up to those with experience, remember these ladies and gentleman are all wise owls who can pass down their knowledge and wisdom to the benefit of your current workforce and are invaluable to your young trainees and apprentices.
“Do not rule them out on age without interviewing them first – you may be surprised many still have years left in them.”
Tobias Burtwell, project manager CBRE, mechanical engineer said: “Like many others in the industry, I was deeply saddened by last week’s news about ISG.
“My thoughts go out to my friends and former colleagues who have been affected by this difficult situation. To all the highly skilled professionals who were part of ISG, I have no doubt that your talent and expertise will open new doors for you swiftly.”
