Hard times: The first Soho House location was opened in 1995 by Nick Jones (pictured)
Soho House’s biggest backers are considering buying the company after it was compared to bankrupt office company WeWork.
The private members’ club said yesterday that some members of its board of directors have begun to study “certain strategic transactions.”
He said this could mean the company leaving the New York stock market in the fall, but added there were “no guarantees” about what would happen.
It comes after US short seller Glass House criticized the company, describing its share price and performance as “eerily similar” to collapsed WeWork.
After a successful listing in New York in 2021, its share price has more than halved.
In response to Glass House, Soho House said it “fundamentally rejects” the report, which states the company has “a flawed business model and terrible accounting.”
It operates 41 member clubs worldwide and has more than 250,000 members. It opened in Soho, London, and Nick Jones opened his first premises on Greek Street in 1995, promising “a home from home for creatives”.
Jones, 60, stepped down as CEO after 27 years in November 2022.
He made the decision while recovering from cancer.
