BE Offices Limited et al. - Administration

BE Offices Limited et al., a flexible workspace provider with 300,000 square feet of office space across the UK, entered administration on 5 February.

The onset of COVID-19 and ensuing lockdowns significantly impacted BE Offices’ business model, leading to millions of pounds of lost income in the first year of the pandemic.

ReSolve was initially retained by BE Offices in 2022 to assist management with formulating a turnaround plan via 11 moratoriums and subsequently 16 CVA proposals which were all approved by the creditors. However, over the following year, demand did not recover to expected levels due to the working-from-home paradigm shift, and by December 2023, the CVAs had failed.

ReSolve was approached again in early January 2024, this time to run an accelerated marketing campaign.

On 7 February, joint administrators Lee Manning and Simon Jagger of ReSolve completed sales to companies owned by most of the management team. The companies did not employ any staff directly, but the sale has effectively secured future employment for the majority of the 200 employees working across the group.

Apex Group Hold Co (UK) Limited and Simon Rusk have registered charges against the company.