Women-only members club AllBright has been saved.
An investee company of London-based real estate investment firm Cain International has acquired the assets of AllBright, which went from a 拢100m valuation in 2019 to administration last week.
AllBright, which describes itself as the leading career network for women via digital and physical spaces, has closed its five-storey townhouse in the exclusive area of London鈥檚 Mayfair.
Following the rescue, members have been given access to a 鈥榗o-hosted鈥� residence, Old Sessions House in Farringdon, from today. The Grade II-listed building offers amenities including co-working spaces, meeting rooms, a caf茅, phone booths, a rooftop pool, and a bar area.聽
Cain International said a new long-term strategic model for AllBright will enhance its focus on learning, networking and events.
Next month AllBright will unveil a permanent AllBright Lounge within Old Sessions House to provide a dedicated environment for connection, collaboration and growth via initiatives such as networking hours, co-working sessions and industry meet-up.
鈥淎llBright has always been driven by a clear mission – to empower women and support business growth – and this next chapter marks an exciting evolution of that vision,鈥� said Viviane Paxinos, CEO of AllBright.聽
鈥淲ith the backing of Cain International, we are strengthening our long-term strategy, deepening our focus on learning, networking, and events, and expanding opportunities for our community.聽
鈥淭he launch of our first co-hosted residence at Old Sessions House is a key milestone, providing a vibrant and inspiring space for our members to connect and thrive. As we transition to this new model, our mission remains as vital as ever, and I look forward to what we can achieve together.鈥�
It鈥檚 unclear what went wrong at AllBright, but its high-profile co-founders – Anna Jones and Debbie Wosskow OBE 鈥� took to social media last week to speak of their shock.
Wosskow, who exited the business in 2022, is now the co-chair of the Invest in Women Taskforce.
She wrote: 鈥淲e had amazing times running that business – highs, lows and everything in between. 2017 was a very different time – feminism was in a different place – post Me Too and the first era of Trump. 老九品茶es in the US like The Wing and Chief were our transatlantic sisters.
鈥淭wo-and-a-half years have passed since our exit and DEI (diversity, equity, and inclusion) now seems unfashionable. Those early rooms of incredible women lit us up, and relationships were built that changed women鈥檚 lives.
鈥淲e hope that the amazing AllBright members continue to find inspirational spaces in which to come together in the future.鈥�
Jones, who is now the CEO of Telegraph Media Group, added: 鈥淪o sad to see the news that AllBright has abruptly closed – and hoping the community it built will live on.
鈥淓ven though I left a few years ago, I鈥檒l always be deeply grateful for the incredible women and the connections I made while building this business.
鈥淭he work we started isn鈥檛 over. Women still need opportunities to connect, grow, and lead.鈥�
Beyond individual memberships, events and brand activations, AllBright also offers AllBright Alliance for some of the world鈥檚 premier brands, including many Fortune 500 companies.
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