Businesses are fighting for rent reduction or membership fee refunds as co-working becomes untenable.
Australian start-ups are racing to exit agreements with co-working providers and battling global giant WeWork for fee relief asIndependent Australian co-working spaces have been forced to shutter after their memberships dwindled to zero over the past two weeks.
The founders are set to be out of pocket at least $100,000 after having to sell-off the 80 strong office fitout. The duo are in negotiations for a surrender of lease and have refunded all members their bonds.have complained that while conditions mean they cannot use spaces, getting out of membership fees has been tough.
One Sydney start-up founder, who spoke on the condition of anonymity, said their business would likely lose lose tens of thousands of dollars because WeWork would not engage with the company to alter its membership unless an annual retainer fee was forfeited.
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