But all is not lost.
The millionaire entrepreneur has just announced two new sites for his easyOffice franchise, one in London, one in Glasgow. These will add on to the premier site in London’s High Street Kensington.
This flagship site has proved the business model: it’s performed at 100 per cent capacity since January 2008. The firm rents out office space for a mere £99 per week with no binding contracts for budding entrepreneurs.
EasyOffice CEO Mark Smith says, "EasyOffice has taken off due to a clear need for simple, no-frills office space at a cost that can accommodate a variety of small, start up and entrepreneurial businesses. This expansion sees us ahead of targets, delivering affordable office rates in great locations to major towns and cities in the UK."
Stelios is no doubt hoping to take advantage of the downturn with this cheap and cheerful office solution. "Being an entrepreneur myself I know how important it is to control costs as you turn your idea into a developing company," he says. "EasyOffice, with its competitive rates, will keep office rent to a minimum."
Let’s hope that easyOffice brings the beleaguered entrepreneur some good news at last.