好色先生TV

Fit-out firm BW Interiors has ruled out taking on any jobs being carried out by collapsed contractor ISG, its chief executive has told 好色先生TV.

The 拢200m turnover company鈥檚 boss Steve Elliott said it had a 鈥済olden rule鈥� not to take over jobs started by collapsed rivals.

And he added that it was 鈥渉ighly unlikely鈥� there would be a situation in which BW would take on jobs ISG had won but had not yet started.

His comments echo those of others who have privately ruled out taking on certain jobs. 鈥淵ou don鈥檛 know what liabilities you鈥檙e going to find,鈥� one major firm said.

Elliott said the firm was taking on a 鈥渉andful鈥� of former ISG staff in the coming weeks mainly to bolster its expertise in the sustainability and commercial office sectors.

鈥淚 have friends who worked there and it is desperately sad what has happened,鈥� he said. 鈥淭hey were a solid company to compete against and we always enjoyed our underdog status. Now there鈥檚 only one big firm left [Overbury].鈥�

He said BW鈥檚 supply chain was unlikely to be affected by ISG鈥檚 collapse as there 鈥渨as very little overlap鈥� between the two businesses.

He added: 鈥淭he markets they were in were 拢50m and above. We鈥檙e not in that market, we鈥檙e between 拢2m and 拢50m.鈥�

But he admitted: 鈥淸ISG鈥檚 collapse] is disruptive. I鈥檇 rather they were still here.鈥�

Elliott was speaking as the firm posted its latest set of results which show turnover fell 7% to 拢200m last year although pre-tax profit was up 38% to 拢3m. That gave a pre-tax margin of 1.5% and Elliott acknowledged the figure needed to head north. 鈥淥ur margins are on the turn and we aim to be 5% net.鈥�

The firm, which is on several frameworks including those for the BBC and tech firms, said it is expected to see turnover this year hit 拢250m and 拢275m in 2025. BW has a long-term target of 拢350m but Elliott added project selection was key to its business model. 鈥淲e turn away more work than we actually tender. We are very stringent on what we will accept [to bid].鈥�

Its main sectors are commercial offices, including its current biggest, a 拢30m headquarters scheme in London, and higher education. Around 90% of its work is in commercial office for clients in the legal, banking and tech sectors.