2023-06-26 15:42

Qlife to reduce costs further by terminating lease

Today, Qlife has signed an agreement to terminate a long-term lease for its high-tech laboratory and office facility in Ballerup. The termination of the lease will reduce Qlife’s annual rent & facility cost by 7.3 MSEK as of November 1st 2023

Since the start of 2023, Qlife has continuously scaled down on costs, workforce and operates mainly by outsourcing. The termination of the lease is part of Qlife’s new operation model to implement additional cost savings.

“Qlife will step out of its long term lease for high-tech facilities to implement the last significant cost reduction measure in the execution of our new operation model. The cancellation of the long-term lease will have a significant financial effect on the company and our ability to reach our long-term objectives”, says Thomas Warthoe, CEO of Qlife.

Qlife will remain operating from scaled down office- and lab-facilities at Industriparken in Ballerup through a short term sublease with the new main lease holder.