There has been a major restructure in architecture firm RMJM. Blair Nimmo and Gary Fraser of KPMG LLP have been appointed as Joint Receivers of RMJM Limited and RMJM Scotland Limited, and Joint Administrative Receivers of RMJM London Limited. The business and assets of each company have since been sold with all 120 employees transferred to the purchaser.
The design studio has been struggling financially as a result of the recession, with Nimmo explaining: “The companies’ businesses have been very severely impacted by the slowdown in the construction industry as a result of the worldwide recession. The sale of the businesses to RMJM Architecture will help facilitate continuation of the companies’ current contracts, preserve the employment of some 120 people and achieve the maximum return for the companies’ creditors”.