The Collective, the co-living company with ambitions to build a 100,000-unit portfolio, is in line to be broken up by its lenders after falling into administration because it could not meet its liabilities.
The London-based company with a transatlantic portfolio collapsed into the UK equivalent of Chapter 11 bankruptcy last week when reduced occupancy caused it to fall short of the income needed to meet debt it took on to fuel a rapid expansion just before the coronavirus pandemic.