The District Court’s decision to approve Convendum’s restructuring plan has now entered into legal force. The company therefore leaves the restructuring process behind and looks ahead with strong foundations for a stable business and profitable growth.
On 18 October 2024, Convendum initiated a corporate restructuring after rental costs increased by 20 percent due to the high inflation experienced in 2023–2024. The restructuring plans were approved by the Stockholm District Court on 9 July 2025 but were appealed to the Court of Appeal on 29 July 2025. The appeal was subsequently withdrawn, and on 8 December the Court of Appeal decided to dismiss the cases. The District Court’s decision therefore stands and entered into legal force on 30 December 2025.
Convendum has thus successfully completed the complex task of restructuring its operations and enters 2026 strengthened, with a balanced business and strong future prospects.
Convendum's operations
Convendum’s operations have been restructured from a focus on growth to one of consolidation. Occupancy currently stands at 78 percent, compared with 53 percent one year ago. Rental costs have been reduced by more than 30 percent, while revenues of nearly SEK 500 million have been maintained. Income and costs are now balanced, and the business is expected to generate positive results in the coming year.
Today, Convendum operates 17 units, compared with 21 previously. The company is focusing on profitable growth and the continued development of its operations. In early 2026, occupancy is expected to increase to 90 percent.
From growth and losses to consolidation and profitability in 15 months
The restructuring process initiated in October 2024 involved renegotiating 20 lease agreements with property owners. Thanks to close cooperation with both the restructuring administrator and the property companies, the process has now been completed successfully.
During the restructuring, Convendum received strong support from property owners as well as from its shareholders, who provided capital to support the company. The company has also benefited from the loyalty of its employees and its large customer base, which remained with Convendum, as well as from new customers acquired during the period.
Convendum has maintained revenues of nearly SEK 500 million and achieved positive net leasing in 2025, while floor space has been reduced by 25 percent and costs by 34 percent. The company is now in balance and is expected to generate positive cash flow and positive earnings in 2026.
This provides Convendum with a strong platform for profitable growth and for reinforcing its position as the industry’s leading player.
We have worked hard for 15 months and are very pleased and satisfied with the results. It is especially gratifying that both customers and employees have chosen to stay with us. It has been a complex journey with constant surprises and obstacles that required discipline and focus. Personally, I decided to do everything possible to ensure our success—there was no alternative in my mind. We now look forward to executing our business plan for 2026–2030, focusing on profitable growth and leading the development of the industry, says Håkan Jeppsson CEO of Convendum.
Convendum looks ahead
Convendum is the pioneer and remains the leading player in the market and will continue to deliver one of the market’s most in-demand services in the form of serviced premium offices. The company now looks ahead with significantly improved conditions.
Going forward, Convendum will continue to establish new units in an improving market and will also focus on positioning itself as a provider within the new core product Office Management. This entails managing the operation of large corporate offices within customers’ own premises, delivering the same high-quality service and operations as in Convendum’s own locations.
Convendum’s more than 200 modern meeting and conference rooms of various sizes at central locations in Stockholm, Gothenburg, and Palma de Mallorca enable everything from smaller meetings to larger conferences and events for both members and external companies. During 2025, Convendum also signed several framework agreements with external companies with an ongoing need for meeting and conference facilities.
Throughout the restructuring process, Convendum has continuously served its customers and currently generates revenues of nearly SEK 500 million, in line with its 2024 turnover. Going forward, revenues are expected to increase.
The office market
The office market has been characterized by rising vacancy rates for several years, driven by the economic downturn and hybrid working patterns, leading many companies to seek smaller and more centrally located premises. Demand is primarily focused on high-quality spaces with modern design, activity-based layouts, and flexible lease structures.
In Stockholm’s city center, vacancy rates are historically high at over 10 percent, with similarly high levels outside the city, such as northern Stockholm, where vacancies exceed 20 percent.
During the prolonged economic downturn, adaptation to hybrid work has reduced the need for office space per employee, even as employment levels in office-intensive sectors have begun to stabilize.
Within Stockholm’s inner city, demand is increasing—particularly in the coworking segment—while peripheral locations continue to struggle with high and persistent vacancy rates.
From 2026 onward, the macroeconomic outlook for inflation, interest rates, consumption, economic growth, investment, and the stock market appears significantly more positive. This supports the expectation that the office market will continue to strengthen and that demand will grow in line with customer companies’ expansion. Convendum, offering full-service offices with flexible agreements in central locations, is expected to be among the first to benefit, adds Håkan Jeppsson.
About Convendum
Convendum offers premium small and large offices with flexible lease agreements and all-inclusive service. With more than 1,000 offices, 200 conference rooms, 30 lounges, and 900 customer companies, Convendum operates 17 units totaling 60,000 square meters in Stockholm, Gothenburg, and Palma de Mallorca.Convendum was founded in 2016 by Håkan Jeppsson, who is today one of three principal owners alongside Knutson Holdings and Wallenstam.
