*UKHotViews Extra* Houst saved from administration with novel Restructuring Plan

Complete the following: “If you spend more than you earn …”

It’s a sad fact of life that few start-ups make it for the long haul. The main reason is usually that they run out of cash. Applies to established businesses too, of course.

However, one entrepreneur is taking a unique approach to try to save his business. He’s James Jenkins-Yates, founder and CEO of London-based Airbnb host management services platform, Houst (formerly Airsorted). Jenkins-Yates announced yesterday that Houst has reached agreement on a Court-sanctioned Restructuring Plan, apparently the first SME to pursue this path.

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Posted by Anthony Miller at '09:27' - Tagged: funding   startup