ISG filed administration notices at six divisions on Thursday including its core construction arm.
The move prompted fury among the firm’s supply chain which has seen unpaid bills mount up while ISG sought a buyer after its financial problems began to emerge at the start of the year.
One subcontractor said: “We’ve been spun a web of bullshit by them for the last six months.
“We’ve got unpaid bills galore and have been strung along with promises of payments once the a sale was agreed.
“I know subbies who are going to go under because of the money ISG owe them.
“To be fair to the ISG people at site level a lot of them were as much in the dark as everyone else as to what was going on.
“But the people at the top of that company need to take a long hard look in the mirror.”
Another added: “Yet again the subbies will suffer but the scale of this failure will be off the charts.
“It didn’t look good when the delays started getting longer over the planned buyout and now it just looks like they were just spinning suppliers a line to retain cash and keep afloat.”
One ISG project manager revealed the chaotic state of the business in recent weeks.
He told the Enquirer: “I’m running a major job but subbies have been pulling off left, right and centre because they haven’t been paid for months and have had enough.
“The client was due to visit on Friday and I was told by head office to just blag it if they noticed not much work was going on.
“At least I’ve been spared that now but the way suppliers and staff have been treated is totally our of order.”
