YRM hopes for pre-Christmas sale
YRM chief executive John Clemow said a buyout for the company before Christmas could be on the cards
The 67-year old practice remains in talks with an unnamed ‘interested party’ over a potential sale.
Clemow said: ‘[Negotiations] are progressing reasonably satisfactorily and we’re working flat out to get it completed before Christmas.’
Major schemes on the studio’s books include the £10 billion Hinkley Point C nuclear power plant project in Somerset which was submitted to the Infrastructure Planning Committee in October.
Clemow declined to name any purchaser. However he added: ‘Big multidisciplinary engineers [which] seem to be moving towards a multidisciplinary approach and offering architectural services.
‘Those big companies are acquisitive.’
Clemow also refused to comment on potential sale details but said his aim now was to ‘maximise the value of YRM as a brand, as a design offer and a set of skills that solves interesting problems.’
The company ran into financial difficulties earlier this year. ‘We’ve had some difficulties with clients,’ admitted the chief executive.
‘There are a huge number of companies in a tight spot at the moment,’ he said. ‘The Eurozone situation is affecting absolutely everybody creating a lot of indecision and we’re waiting to see what is going to happen.’
YRM currently operates a 20-strong office in King’s Cross, London. A studio in Romania closed last year.