Back in May 2009, our Anthony Miller wrote a HotView post entitled RM – Oh no, not the comfy chair. It was pretty critical (to say the least…) about RM’s decision to purchase Isis – a school furniture supplier – for £2.7m. The ‘Oh no not the comfy chair’ quote has appeared in almost every one of Anthony’s posts on RM since.
We covered RM’s disposal of Isis a month back – see RM completes disposals with Isis. But it clearly takes time for Tempus in The Times to catch up as on 9th June 12 they made it their Deal of the Day. Tempus wrote:
In 2009, the software company RM paid £2.7 million for Isis, a school furniture supplier, provoking Monty Python-style cries of “Not the Comfy Chair” from analysts. Three years on and “not” is the operative word: RM, under new management, has sold Isis back to its founder Nick Topliss for £205,000. RM was sitting a little more easily yesterday, up 6p at 74½p.
So,although nobody expects the comfy chair, perhaps there are a few members of the previous RM management team who might deserve it!.