Convendum has successfully completed the corporate reorganization that began in October 2024. Today the reconstruction plan was approved by the Stockholm District Court. The decision will become legally binding in three weeks.
“Thanks to the restructuring, we have navigated a difficult period and are now well positioned for the future. The business is stable and viable, and Convendum continues to be a leading player in the industry, ” says Håkan Jeppsson, CEO of Convendum.
The need for reorganization was driven by a series of external factors — the pandemic, an economic downturn and unexpectedly high inflation. As a result of inflation, rental costs rose sharply during 2023–2024, creating an unsustainable situation for Convendum and many other companies with significant leased premises.
A number of measures were implemented, including cost reductions, operational efficiencies and financial support from the parent company. Through renegotiated lease terms and closures, the company has managed to reduce costs by more than 30 percent while maintaining revenue. Five lease agreements were terminated, but the majority of the customer base was retained by relocating clients to existing sites. In total, 15 locations continue to offer the full range of services with the same high level of service as before.
“Support from our landlords, customers and employees has been invaluable. The steps we have taken have created a solid foundation for a sustainable and profitable long-term business — and we can now look ahead with renewed strength,” says Håkan Jeppsson.
Throughout the restructuring process, Convendum’s operations continued without interruption, maintaining an unchanged offering of private offices, coworking spaces, lounges and conference facilities for both small and large customers.