As of: February 21, 2024, 4:53 p.m
By: Caspar Felix Hoffmann
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The once highly rated start-up WeWork, which offers office and co-working spaces, will close its location in downtown Frankfurt.
Frankfurt – The once highly rated start-up WeWork, which offers offices and co-working spaces, will close its location in downtown Frankfurt.
The affected tenants were informed by email on Wednesday (February 21) that the location would be abandoned on March 28.
Exact reasons for the decision were not given.
The company recently cited rents that were too high and rental contracts that were too long as the reason for the financial difficulties.
Tenants, including companies and the self-employed, were told that if they wanted to stay in the building they could either move to another location in the city or continue their contracts with WeWork's successor - under the same conditions, it said from real estate circles.
The affected location is on Neue Rothofstrasse near Hauptwache.
The second location at the Taunusanlage, however, will remain.
WeWork logo at the Taunusanlage in Frankfurt.
© xCinebergx/Imago
Frankfurt start-up “K1 Businessclub” takes over WeWork location
The successor for the location not far from Fressgass and Goethestrasse has already been clarified: the Frankfurt start-up “K1 Businessclub”, which already operates three other locations in the city, will take over.
“We are a local family business,” said managing director Marc Tillmanns when asked by this editorial team.
The company employs twelve people.
WeWork has been in the headlines lately.
After a failed IPO and insolvency proceedings, the company is now closing several locations in Germany, including Berlin and Hamburg in addition to Frankfurt.
The start-up's former billion dollar valuation is a thing of the past.
(cas)