Birmingham serviced office operator goes under with all jobs lost
A company which operated serviced offices in Birmingham and Manchester has ceased trading, with all staff being made redundant.
Arvindar Jit Singh and Rajnesh Mittal, partners atbusiness advisory firm FRP, were appointed joint administrators of iHub Office on 12 March.
iHub had experienced “significant financial challenges” through the course of the COVID-19 pandemic due to the increase in tenants working from home, reducing the need for office space.
All seven people at the company have been made redundant and the business has ceased trading.
Rajnesh Mittal, partner at FRP and Joint Administrator of iHub Office, said: “The COVID-19 pandemic has had a significant impact on firms of all types. The increase in people working from home has put substantial pressures on the serviced offices industry over the past year.
“iHub Office has been unable to meet its financial obligations and has become insolvent. We’re now focused on ensuring efficient communication with creditors as part of our statutory duties and working with the staff at iHub Office to help them access the appropriate redundancy support.”