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.
