Shared workspace provider IWG has acquired New Zealand co-working firm BizDojo, which was facing financial problems. ​New Zealand country manager Pierre Ferrandon said IWG was pleased to have the opportunity to support an entrepreneurial New Zealand company that had grown something original from the ground up. The start-up's decision to open four sites in Auckland last year was too ambitious, according to one of its main shareholders, and it was left facing liquidation before the sale was agreed. A subsidiary, BizDojo Auckland, was liquidated in January, owing NZD341,000 ($278,000) to the landlord of its site. The sale to IWG should allow the company's other sites in Auckland, Wellington and Christchurch to continue operating. In a statement on Thursday, IWG's chief executive David McGoldrick said that while he had been "disappointed with some aspects of our business performance", "we are pleased to have reached an agreement for
Shared workspace provider IWG has acquired New Zealand co-working firm BizDojo, which was facing financial problems. The start-up's decision to open four sites in Auckland last year was too ambitious, according to one of its main shareholders, and it was left facing liquidation before the sale was agreed. A subsidiary, BizDojo Auckland, was liquidated in January, owing NZD341,000 ($278,000) to the landlord of its site. The sale to IWG should allow the company's other sites in Auckland, Wellington and Christchurch to continue operating. In a statement on Thursday, IWG's chief executive David McGoldrick said that while he had been "disappointed with some aspects of our business performance", "we are pleased to have reached an agreement for