BizDojo bought by UK-listed company

BizDojo co-founder Nick Shewring opened the site at the GridAkl in 2016.

London Stock Exchange-listed International Workplace Group has bought New Zealand co-working provider BizDojo.

International Workplace Group (IWG) owns workspace companies including Regus, Spaces, No18 and Basepoint. The company says it is a global leader in the fast-growing workspace-as-a-service sector, and has more than 3,100 locations worldwide in more than 1,000 cities and 110 countries.

The company already has a presence in New Zealand with 14 Regus locations in Auckland, Wellington and Christchurch.

Co-working involves the renting of shared office space and facilities and has been a traditional model for tech start-ups and creative companies.

BizDojo Auckland was placed into liquidation last month, with the liquidators first report filed with the Companies Office on January 31 confirming that Brendon Gibson and Neale Jackson from KordaMentha were appointed joint liquidators for the company.

The creditors voted to place the company into liquidation on January 19 and the liquidators were then appointed on January 25.

The report said Bizdojo had no employees and no known debtors, but had been unable to pay rent at the leased location at the GridAkl, located at 101 Pakenham Street.

According to the report, the company owed approximately $373,000, primarily relating to the lease obligations on the Auckland premises.

Approximately $340,000 of the total amount is owed to ATEED, which runs the GridAkl. A further $31,900 is owed to recruitment firm Robert Walters.

Co-founders Nick Shewring and Jonah Merchant started BizDojo in 2009, opening three spaces in Auckland as well as one apiece in Wellington and Christchurch.

The other BizDojo locations were not in liquidation.

KordaMentha's Jackson last week said it was too early to tell whether the creditors would be able to recover the full amount owed.

IWG New Zealand country manager Pierre Ferrandon said the company was pleased to have the opportunity to support an entrepreneurial New Zealand company that, like so many of its customers, had grown something original from the ground up.

"IWG is very pleased to support this fantastic Kiwi concept with our global network, resources and experience," Ferrandon said.

"BizDojo has gained a significant following over the years. Bringing it into our network offers New Zealand businesses greater variety, with more, character-filled locations. Our growing network in New Zealand enables our customers to work however and wherever they want, with more workspaces on the way."

BizDojo co-founder Jonah Merchant said the team was looking forward to working with IWG and benefitting from its global reach and expertise.

"Since day one, the BizDojo focus has been the same – to support our residents as they grow their businesses, foster a sense of community, share learnings amongst each other, and collaborate. We are excited to continue that journey with IWG."

Digitalisation and new technologies were transforming how people worked, Ferrandon said.

"As a result, people are waking up to the personal productivity benefits of being able to live and work how and where they want," he said.

"Businesses are also increasingly understanding the financial and strategic benefits to be gained from using flexible workspace to ensure they always have the right space at the right time in the right locations for their employees. These trends are increasing demand for collaborative and inspiring workspaces and communities globally, and here locally in New Zealand also."