Nearly 400 Jobs Lost in Kent as FFX and ISG Enter Administration
Almost 400 jobs in Kent have been lost as two major employers, Folkestone Fixings (FFX) and ISG, went into administration on the same day. FFX, a tools and hardware retailer with locations in Folkestone, Ashford, and Lympne, has closed its doors, resulting in 147 redundancies. Simultaneously, 240 employees from the Whitstable branch of ISG, an […]
Almost 400 jobs in Kent have been lost as two major employers, Folkestone Fixings (FFX) and ISG, went into administration on the same day.
FFX, a tools and hardware retailer with locations in Folkestone, Ashford, and Lympne, has closed its doors, resulting in 147 redundancies.
Simultaneously, 240 employees from the Whitstable branch of ISG, an international construction firm, have also lost their jobs. ISG’s UK operations have collapsed, leading to a total of 2,200 redundancies nationwide.
The US-owned ISG had been facing financial difficulties for some time, according to joint administrators from EY. On the same day, PwC was appointed to oversee the administration of FFX, with the company unable to continue trading. Customers have been informed that existing orders are unlikely to be fulfilled.
Both closures mark a significant economic blow to the Kent community.
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