The downfall of Soho house

Soho house is going bankrupt. At least according to GlassHouse Research, a financial analysis firm. They rage that Soho house has a broken business model with a persistent lack of profitability, overcrowding, a perceived decline in service quality, rising debt levels, and sketchy accounting. Now I’ve never been inside Soho house, only heard of it. As a refresher for everyone, Soho house calls themselves “a club for creatives. We exist to provide a home for our members to come together and belong, wherever they are in the world.” The Houses provide a home away from home for members to eat, drink, relax and have fun in our club spaces, spas, gyms, pools, and screening rooms There’s currently 42 Soho houses across the world in mostly tier 1 cities like New York, London, Hong Kong, Stockholm, and Miami. Amenities you cane expect include a nice bar, screening room, curated dining options, rooftop pool, spacious dining areas, luxurious hotel rooms, and an extensive art collection.