Proptech retail property platform shuts down

Sook, a pop-up retail space business with sites in Leeds, Birmingham and Liverpool, has ceased trading.

The firm, which allowed brands to rent spaces and customise stores using its digital fit-out service, says it could not to raise enough cash to keep operating.

It was set up by John Hoyle in 2019 from an empty restaurant in Cambridge, then expanded rapidly, collaborating with almost 300 brands in 2022.

Commenting on LinkedIn, Hoyle said: “I’m devastated to announce the closure of Sook yesterday.

“In spite of the extraordinary efforts of our team, growing sales and achieving international scale we were unable to raise sufficient investment to continue in the current environment.

“I’m so proud of all that we achieved and incredibly sad that we cannot continue.

“Please support our team members as they search for new roles. They have first hand experience of disrupting the retail and real estate sectors during incredibly challenging times.

“Thank-you to everyone who supported us over the last five years.”