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The Collective Collapses as Co-Living Firm Fails to Find a Buyer

  • Apartment operator appoints FTI Consulting to assess options
  • Sector aimed at young renters was hit hard by pandemic

The Collective, an operator of small apartments in London and New York that offer communal lifestyles for young urban professionals, has fallen into administration after failing to find a buyer. 

FTI Consulting has been appointed to assess potential options for the privately held firm following unsuccessful attempts to raise capital from investors and undertake a sale, according to a statement from FTI on Thursday. Some of the firm’s 62 employees will likely be dismissed in the coming weeks.