image

(Bloomberg)—The Wing, the buzzy coworking space built for women who were leaning in and shattering glass ceilings, is closing its locations effective immediately.

Members received an email announcing the closure of its six remaining locations — down from 11 in its pink-velvet heyday — on Aug. 30, according to a message reviewed by Bloomberg News. In the note, the company cited both pandemic-related closures and “increasing global economic challenges” as contributing factors.

“We have been unable to recover and grow the level of active membership and event activity necessary to run a financially sustainable operation,” the message read. “As a consequence, we are very sorry to say that all of The Wing locations will be closing permanently, and members will no longer have access with immediate effect.”

A spokesperson for IWG PLC, a co-working and office space provider that owns a majority stake in the company, confirmed the closure to Bloomberg. The email to members, who pay up to $295 per month in fees, said they could access any of IWG’s 1,000 locations in the US through Sept. 30.

Mark Dixon, IWG’s founder and chief executive officer, said in a statement that The Wing saw less demand during the pandemic because of their downtown locations. People instead “wanted access to centers in suburban locations, closer to where they live,” Dixon said. The six remaining spaces included three in Manhattan, as well as one each in San Francisco, West Hollywood and Chicago.

The closure follows the July exit of Jennifer Cho, whose tenure as chief executive officer lasted five months. Her appointment came after years of turmoil at the brand, which faced a 2019 lawsuit alleging discrimination for its women-only ethos. Black and Latina workers also alleged that they experienced discrimination from both members and management. The brand also laid off hundreds in the early weeks of the pandemic, and never recovered.

Co-founder and then-CEO Audrey Gelman stepped down in July 2020. She has since launched the artisan-focused Brooklyn shop The Six Bells.

To contact the author of this story: Ella Ceron in New York at [email protected]

© 2022 Bloomberg L.P.

Leave a Reply

Your email address will not be published.

Check Also