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‘Business as usual’ at Bradfield Centre after Central Working collapse



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The Bradfield Centre on Cambridge Science Park. Picture: Keith Heppell
The Bradfield Centre on Cambridge Science Park. Picture: Keith Heppell

Central Working has gone into administration – but the service to the Bradfield Centre, one of the brightest lights in the Cambridge constellation, is continuing as usual, says the site’s owner, Trinity College.

The Bradfield Centre is owned by Trinity College and managed by Central Working on its behalf,” a Trinity College spokesperson told the Cambridge Independent. “The Bradfield Centre team remain in place with the full support of the college. The centre will continue to operate as normal.”

Quantuma LLP has been appointed as administrators of the London-based flexible office space group, whose crown jewel on Cambridge Science Park opened in 2017.

Andrew Watling, partner at Quantuma, said: “Carl Jackson and I have been appointed administrators over Central Working due to financial issues, apparently caused by historically low occupancy levels and a failure to obtain additional funding.

“However, the underlying business now appears to be profitable and capable of sustainable growth. For this reason, we received and continue to receive several expressions of interest in the business. Subject to negotiations, we hope to be in position to announce a sale within a relatively short period of time and are already in advanced talks with a prospective purchaser.

“Continuing to trade is a key priority for the administrators. No redundancies have been made or are planned and we are looking to achieve the best possible outcome for creditors.”

Citylounge Ventures Limited – which trades as Central Working – runs a UK-wide network of shared workspaces, providing a home to 2,000 businesses. Central Working was launched in 2011 after its founder decided that standard office space no longer suited the modern business, as traditional leases limited them to spaces that they either outgrew quickly or struggled to fill if growth was low.

The company is a service business, focused on helping members grow their own companies by introducing them to valuable connections, such as prospective clients, potential new hires and last minute suppliers.

“Continuing to trade is a key priority for the administrators, meaning that the announcement of the administration will have little or no day-to-day effect on Central Working’s members. Quantuma and Central Working will continue to work with its landlords and suppliers to maintain the quality of service its members expect,” say ther administrators. “No redundancies have been made or are planned and we are looking to achieve the best possible outcome for creditors.”



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