Convendum has now successfully completed the corporate restructuring that began in October 2024. Today, the restructuring plan has been approved by the Stockholm District Court. The decision will enter into force in three weeks.
– Thanks to the reconstruction, we have made it through a tough period and are now well equipped for the future. The business is stable and viable, and Convendum continues to be a leading player in the industry, says Håkan Jeppsson, CEO of Convendum.
The background to the reconstruction is based on a series external factors – the pandemic, recession and unexpectedly high inflation. As a result of inflation, rental costs increased sharply during the period 2023-2024, which became unsustainable for Convendum and many other companies with large rentals.
One line measures have been taken, including among other things, reduced costs, streamlining operations and financial support from the parent company. Through renegotiations of lease terms and closures, the company has succeeded reduce their costs by over 30 percent – while the company has maintained its revenues. Five leases have been terminated, but a majority of the customer base has been retained by moving to existing units. A total of 15 units now continue to offer all services with the same high level of service as before.
– The support from our landlords, customers and employees has been invaluable. Through the measures we have taken, we have created a stable foundation for a long-term sustainable and profitable business – and can now look forward with renewed vigor, says Hakan Jeppsson.
Throughout the reconstruction period, Convendum's activities continued without interruption, with an unchanged offering of small and large offices, coworking, lounges and conference rooms.
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