In the loop: growth of the IWG; Restructuring of working capital; And Hubble raises £ 2million
IWG with triple Flex space openings
Bisnow reported this week that IWG signed franchise agreements with 20 new partners this year, which will translate into 110 new flexible workspaces. According to the report, “this number represents a sharp increase in the growth rate in the first half of 2020, when 30 such franchises were launched.” IWG has increasingly relied on franchise agreements to fuel its growth. The new franchise agreements cover both the Regus and Spaces brands, and new sites will open in the United States, India and Malaysia.
Working capital plans to restructure operations
EdgeProp reported this week that Singapore-based coworking operator The Working Capital (TWC) plans to undergo a restructuring exercise “to better protect the company as it negotiates terms with two of its largest owners who own properties that makes up about 58,500 square feet of its floor space in the Keong Saik neighborhood. According to statements by the coworking company, the restructuring was a back-up plan if the owners rejected their proposed payment plans.
The last news
Delivered to your inbox
Hubble raises £ 2million
Hubble, an online marketplace for flexible workspaces, has raised £ 2million in new investment, Business Cloud reported this week. The new sum brings the company’s total investment to £ 10million. According to the report, Hubble will use the funds to launch a hybrid workspace platform that will allow companies “to understand how their employees want to work, and then to find, configure and manage their hybrid workplace in a way based. on the data. . ”
For more flexible workspace news and trends, visit our Daily Digest section!
Share this article