According to information obtained by News, Whitehall representatives are gathering City advisors to work on backup plans for ISG, which is scheduled to formally appoint administrators on Friday.
Government authorities were reportedly keeping a tight eye on the ISG disaster, which is predicted to be the largest casualty in the construction industry since Carillion’s collapse in 2018.
Among its private sector clients in the UK are Apple, Barclays, and Google. ISG employs over 2400 people.
It is also believed to be working on building projects for prestigious City law firms, such as Addleshaw Goddard.
Following the withdrawal of a South African bidder from negotiations a few days prior, the accounting firm is reportedly in a desperate search for a buyer for the business.
Texan investor Cathexis is the owner of ISG.
Both the Cabinet Office and EY refrained from commenting.
