The latest statement of affairs from ISG Ltd shows the group is short by over £53m owed to HMRC for the group’s VAT liability.
ISG Ltd is the parent company of the eight firms that filed for administration on 20 September, making over 2,000 employees redundant and owing subcontractors millions of pounds.
At the time of the collapse, it was the sixth biggest construction contractor in the UK by turnover, with revenues of £2.2bn.
The document uploaded to Companies House shows that ISG owes HMRC £53,442,104.66. HMRC is a preferential creditor when a company enters administration. However, ISG Ltd has no assets left to cover the debt.
The statement of affairs was signed off on 22 October by the operating director at ISG’s parent company Cathexis, Matthew Roche, and ISG company director Andrew Slaney Page.
