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Indonesia’s CoHive bankruptcy sends chills through surviving co-working businesses
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CoHive was once deemed the largest co-working space firm by occupying around 29 per cent offices in Jakarta’s CBD.
PHOTO: COHIVE/INSTAGRAM
JAKARTA - The bankruptcy of CoHive, one of Indonesia’s largest co-working start-ups, has sent chills through the industry, with many expecting difficult times for businesses in the sector in 2023 despite Covid-19 no longer hindering people from returning to flexible work.
The Central Jakarta District Court delivered its verdict approving the bankruptcy of PT Evi Asia Tenggara, which manages the CoHive brand, filed by its creditors after the company failed to conclude arrangements on its liabilities during the debt suspension period.
