NeueHouse abruptly closes co-working clubs, citing finances

NeueHouse, an upscale members-only co-working club, has abruptly closed its three locations in Venice, Hollywood and New York City, citing severe financial challenges.

- CLARA HARTER

YOSHIHIRO MAKINO NEUEHOUSE'S Venice site, just blocks from Venice Boardwalk and the beach, included a rooftop restaurant.

The announcement, which was published on the company’s website and social media accounts Thursday, came just two days after the company encouraged people to sign up for memberships in an Instagram post.

Members were ultimately given less than 48 hours to collect their belongings from the clubhouses.

“Although NeueHouse has created an extremely valuable business that is prized by members and event hosts, unfortunately, it has been burdened by legacy liabilities,” according to the post on the company’s website, which was attributed to the NeueHouse board. “Despite our best efforts to find a sustainable path forward — including exploring every possible solution to address these challenges — we have made the very difficult decision to wind down the business.”

All three locations shut down at 2 p.m. Friday. In their statement, board members said that they regret the effect the closure will have on employees and members, but that they believe this is "the most responsible path for all our stakeholders." Jennifer Duguay was caught off guard by the sudden shutdown. She joined the Venice location in midAugust and paid for three months of membership upfront.