The Texan tycoon behind bankrupt prison builder ISG has broken his silence on the demise of the firm, as details emerge of a $1 billion debt his company owes Goldman Sachs.
William Harrison III, the construction company’s former chairman, has said he is “devastated” for the 2,200 people who have lost their jobs, in what some have dubbed as the biggest collapse in the industry since the fall of the outsourcer Carillion in 2018.
ISG, which also built schools in Wales and Manchester and had a turnover of £2.2 billion in 2022, called in administrators from EY nine days ago. It was owned by Cathexis Holdings, Harrison’s family office, whose portfolio also includes data centre developer Yondr and Irish engineering firm Jones Engineering, which employs