ISG administrator tells subbies no funds to pay debts

Administrators handling collapsed contractor ISG are warning subcontractors and suppliers there will be insufficient funds left to pay any of the cash owed to them.
In letters to trade creditors, administrator EY confirmed that no further work would be carried out during the administration on existing contracts, including projects for Construction, Fit Out and Engineering services businesses.
It said: “The companies are being wound down under our supervision while we conduct an investigati