Blair Nimmo and Gary Fraser of KPMG LLP were appointed Joint Receivers of RMJM Limited and RMJM Scotland Limited, and Joint Administrative Receivers of RMJM London Limited, on 26th October 2012.
Immediately following their appointment, the Receivers completed a sale of the business and assets of each Company to RMJM Architecture Limited. Under the terms of the transaction, all 120 employees of the companies transferred to the purchaser.
Commenting on the sales, Blair Nimmo, head of KPMG Restructuring in Scotland, said “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”.
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