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The Building Engineering Services Association (BESA) has urged the government to act quickly in response to the collapse of main contractor ISG.
M&E firms are expected to be among the hardest hit by the financial collapse of the £2.2bn turnover business with the loss of more than 2,000 jobs.
Construction data firm Barbour ABI estimates that ISG has unfinished projects worth £1.7bn, including the £150m fit-out of Google’s new headquarters building at King’s Cross, and building services firms are facing millions of pounds of unpaid bills.
Eight divisions, including ISG Construction Limited and ISG Engineering Services Limited, fell into administration on Thursday, although many sub-contractors had been downing tools for some time due to missed payment deadlines.
BESA had been providing emergency support and advice to several members affected by cash flow problems due
link source - Construction Media