Flexible workspace operator WeWork has confirmed it is closing its 131 Finsbury Pavement site in London.
In November 2017, it was reported that WeWork had signed a 15-year lease with Royal London Asset Management on 90,000 sq ft at the building.
A spokesperson for WeWork said: “As part of WeWork’s efforts to achieve a sustainable capital structure and profitable business to serve our members for the long term, we have made the decision to stop operations at 131 Finsbury Pavement. We have offered affected members the option to relocate, with our support, to our other locations in London, and deeply apologise for any inconvenience this may cause. We look forward to continuing to provide our members with flexible space solutions across our other locations in the capital.”
WeWork has already closed a number of locations in London as part of a wider restructuring of the business, which filed for Chapter 11 protection in the US in November last year.
Royal London Asset Management declined to comment.
