""Although NeueHouse has created an extremely valuable business that is prized by members and event hosts, unfortunately, it has been burdened by legacy liabilities," according to the post on the company's website, which was attributed to the NeueHouse board. "Despite our best efforts to find a sustainable path forward - including exploring every possible solution to address these challenges - we have made the very difficult decision to wind down the business.""
"NeueHouse, an upscale members-only co-working club, abruptly closed its three locations in Venice, Hollywood and New York City on Friday, citing severe financial challenges. The announcement, which was published on the company's website and social media accounts Thursday, came just two days after the company encouraged people to sign up for memberships in an Instagram post. Members were ultimately given less than 48 hours to collect their belongings from the clubhouses."
"Jennifer Duguay was caught off guard by the sudden shutdown. She joined the Venice location in mid-August and paid for three months of membership up front. Moreover, she was upset on behalf of staff members who abruptly lost their jobs. "In my short time there, I built meaningful connections with the hardworking staff," she said. "Walking in the day after the announcement was heartbreaking. Despite being left completely in the dark, the staff still showed up with grace and professionalism.""
NeueHouse abruptly closed its three members-only clubhouses in Venice, Hollywood and New York City on Friday. The company cited legacy liabilities and severe financial challenges as reasons for winding down the business. The closure announcement was posted on the company's website and social media accounts Thursday, two days after an Instagram post encouraging new memberships. Members were given less than 48 hours to retrieve belongings and all locations closed at 2 p.m. Friday. Board members expressed regret for the impact on employees and members and said winding down was the most responsible path for stakeholders. Members and staff reported being caught off guard; some had prepaid memberships and staff lost jobs abruptly.
Read at Los Angeles Times
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