Central Working, a London-based coworking provider, has reportedly collapsed into administration and appointed advisory firm Quantuma.
A letter to tenants said that buyers “are currently undertaking due diligence on our company,” but did not announce the identity of them.
Central Working told tenants that this should not disrupt their day-to-day operations, but concerns over the coworking business model have come to a head after WeWork’s delayed initial public offering.
“As you can appreciate this process is quite fluid and inevitably, external influences will seek to unsettle our plans and spread rumours, but we expect to be able to update you with new information very shortly. We ask during this time for your patience,” the firm said.
Currently, Central Working has 11 sites across the UK that hosts 1,850 companies.