'Not the way I wanted you to find out': The email sent out as 2,200 lose jobs overnight at major firm
manchestereveningnews.co.ukThousands of people have lost their jobs after the construction group ISG collapsed into administration in the UK. The company, which has a site at MediaCity UK in Salford, was in the middle of numerous government projects, including work to prisons.
But the majority of its 2,400 employees have now been made redundant after the UK business appointed joint administrators at EY, with trading stopping immediately.
In an email sent to staff on Thursday, ISG chief executive Zoe Price said: "Some of you may have seen reports in the media that ISG has filed for administration here in the UK.
With sadness, I can confirm that this is factually correct. READ MORE: The deputy headteacher who tried to save his own skin after 'truly shocking' behaviour "This was not the way I wanted you to find out and the news should not have leaked in this way." Ms Price promised staff they would be paid on Monday, as normal, and said the current situation was the result of "legacy issues relating to the large loss-making contracts secured in between 2018 and 2020". "Trading out these projects has had a significant effect on our liquidity," she added. "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." Ms Price said "significant efforts" had been made to find a buyer for the ISG but that they had been unsuccessful.
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