RMJM's UK businesses in receivership
Troubled architect announces major restructure
RMJM has today placed three of its UK businesses into receivership.
The move, which sees KPMG acting as the receivers for RMJM, RMJM London and RMJM Scotland, is the result of a strategic review by the directors of the practice.
All of the contracts, and associated architecture teams, have been acquired by a new business – RMJM European Division. This now sits alongside RMJM Middle East, RMJM US and RMJM Asia to make up the RMJM Group.
Chief executive Peter Morrison said: “The RMJM team around the world has shown tremendous resilience and loyalty in extremely challenging circumstances over the last number of years.
“The financial issues the business has faced are a direct impact of a brutal global recession and the well-documented impact of this on the UK construction market. This restructuring is designed to support the clients, projects and the staff of RMJM’s business in the UK.”
In a statement issued today RMJM said all 120 UK jobs have been saved following the restructure.
The news follows a troubled week for RMJM, with bailiffs seizing equipment at its London office just a few days ago.