Advertisement
Back To Daily Digest
Tags: BUSINESS

Only Half Of Workspace Group Customers Paid Rent Last Month

London-based Workspace Group has revealed only half of their customers paid rent at the end of March, while several others have sought relief.

The company said it was cutting costs and capital expenditure to alleviate the blow of this reduced income, but added it had enough capital to help them withstand the coronavirus lockdown with £70 million in cash, £96 million in undrawn credit facilities and no debt maturities until June 2022.

Inquiries for space at Workspace Group had slowed down at the end of March and its shares were down 0.7%. 

“We recognise that our continued success depends on the ability of customers to emerge from the coronavirus pandemic in good financial shape, and we are working with them to achieve this,” said Graham Clemett, CEO of Workspace Group.

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

Latest on Daily Digest

Ad
Advertisement

FOLLOW US

  • Facebook
  • Twitter
  • LinkedIn
  • RSS
  • instagram
  • pinterest
Ad
Advertisement
Advertisement

POPULAR ARTICLES

Advertisement
Advertisement

Stay On Top Of Your Game!

Subscribe To The Largest Publication On The Future Of Work And Receive Our TOP 10 News Stories Every Saturday, Among Other Cool Stuff. 100% FREE

Before You Go!

join

OUR PREMIUM NEWSLETTER

If it's affecting the
Future Of Work,
you'll be the first to know.