BE Offices and almost a dozen of it's subsidiaries filed for administration (a formal insolvency process designed to rescue businesses in financial trouble) in London. The firm, who managed a mix of leased, managed and wholly owned sites, had issued a warning last year that it was struggling to recover from the impact of pandemic lockdowns.

ICYMI: The firm had received a £5M loan from HSBC, sold off their owned properties in '22 and '23 to repay loans, and then got an additional long-term £3.5M loan from their shareholders. The firm will continue to operate 'business as usual' as the restructuring process continues.