Co-Living Brand The Collective Teetering On The Edge Of Administration

Another leading light of the co-living industry is at immediate risk of collapse.

The Collective, a developer and operator of co-living buildings based in the U.K., is on the edge of entering administration, the closest British analog to Chapter 11 bankruptcy in the U.S., React News reports. After hiring Credit Suisse to pursue a potential sale in June but finding no takers, The Collective is approaching financial collapse.