Duthus Investments purchase RMJM Architecture for £11m
April 2 2013
Declan Thompson, RMJM’s commercial director, announced the acquisition to shareholders on 28 March after the Morrison family, who carry 75% voting rights, accepted an ‘unconditional cash offer’ of £11m for the business.
Crucially the deal will also remove £12m of a £24m debt burden which Thompson conceded was ‘too onerous to be supported by its current level of activity’.
In an email to shareholders Thompson said that the move would ‘facilitate the restoration and future development of the RMJM brand’ and ‘secure the employment’ of staff.
Once the latest restructuring process is completed Duthus will be renamed as RMJM Group Investments Limited.
7 Comments
#1 Posted by e=mc2 on 2 Apr 2013 at 19:24 PM
surely the spelling is 'doofus' ?
#2 Posted by Peter the Queen on 2 Apr 2013 at 19:55 PM
Great News that they have managed to wipe 12 million off the debt !
But hang on a second, i wonder who owns Duthus Investmemts.........it couldnt possibly be the Morrison Family could it ?
Surely Not !
But hang on a second, i wonder who owns Duthus Investmemts.........it couldnt possibly be the Morrison Family could it ?
Surely Not !
#3 Posted by boab on 3 Apr 2013 at 18:35 PM
Utterly Shamefull
#4 Posted by Raymondo on 3 Apr 2013 at 18:42 PM
These People have set a new low in the Architecture profession
How any Client can associate with them is beyond belief
How any Client can associate with them is beyond belief
#5 Posted by Shaf Ted by RMJM on 3 Apr 2013 at 19:00 PM
Peter the Queen got it right. Another scheme to erase obligations, yet the workers current and former remain unpaid. Pension plans unfunded and taxes - fuggedaboutit!
#6 Posted by SW on 3 Apr 2013 at 20:21 PM
Corporate Three-Card Monte - now in Scotland!
#7 Posted by Rob on 3 May 2013 at 06:41 AM
Thats BSR 2013 Limited ........the company formally known as RMJM Group Limited Had a winding up order lodged
23/04/2013 Not Rated Winding Up Petition(s)
All very above board and honest im sure
23/04/2013 Not Rated Winding Up Petition(s)
All very above board and honest im sure
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