Swedish Coworking Operator Convendum Receives Restructuring Approval and Raises €4.9M in New Capital
Swedish coworking operator Convendum has officially exited its corporate restructuring process after reaching a new lease agreement, marking a key step in stabilizing the company after a challenging financial year.
In October 2024, Convendum entered into a court-supervised restructuring due to financial pressures linked to long-term leases and falling occupancy. Since then, the company has reduced its operational footprint from 21 to 17 locations, closing 22,000 m2 of office space. At its peak, the company managed over 62,000 m2. The restructuring had faced a last-minute appeal from Adlern, one of Convendum’s creditors and landlords, which has now been resolved through a revised ten-year rental agreement. The new lease includes a rent reduction and a rent-free first year, though it does not override the previous debt settlement.
Starting January 21, 2026, Convendum will begin repayment on its €9.7 million in written-down debt. Additionally, €1.1 million in frozen tenant deposits has been refunded to clients who opted to terminate their leases, says this article.
As part of a broader recovery strategy, Convendum has secured €4.9 million in new funding through a planned share issue scheduled for January. The largest investor is Knutsson Holdings, which is contributing €3.5 million, becoming the company’s largest shareholder. Other major shareholders include real estate group Wallenstam and Convendum CEO Håkan Jeppsson.
Håkan Jeppsson, who founded Convendum in 2015, confirmed that occupancy across the portfolio has improved to 77%, up from 53% a year earlier. “After intensive and demanding work, we are happy about a successful reconstruction. The support from owners, landlords and customers was essential. We now move forward with a balanced business”, he said in a press release.
The company plans to continue developing its coworking model. Convendum operates coworking spaces in several Swedish cities. The company is known for high-end workspaces, meeting facilities, and event venues. Its long-term ambition includes strengthening its presence in major Swedish urban centers.
Picture source: Convendum website
