Troubled times: Soho House’s first venue was opened in 1995 by Nick Jones (pictured)
The biggest backers of Soho House are considering buying the company after it was compared to the bankrupt office business WeWork.
The private members club said yesterday that some of its board have started to look at ‘certain strategic transactions’.
It said this could mean the firm leaves the New York stock market in the autumn – but added there were ‘no assurances’ over what would happen.
It comes after the US short seller Glass House criticised the business, describing its listing and performance as ‘eerily similar’ to the collapsed WeWork.
After a blockbuster listing in New York in 2021, its share price has more than halved.
Responding to Glass House, Soho House said it ‘fundamentally rejects’ the report, which declared the firm has ‘a broken business model and terrible accounting.
It operates 41 member clubs worldwide and has more than 250,000 members. It was launched in Soho, London, with its first venue opened on Greek Street in 1995 by Nick Jones, promising ‘a home away from home for creatives’.
Jones, 60, stepped down as chief executive after 27 years in November 2022.
He made the decision as he was recovering from cancer.
