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End of the World Doesn't Mean the End of Your Business.

PURCHASE, N.Y.--(BUSINESS WIRE)--July 2, 1999--

Nostradamus' prediction of a world disaster in the seventh month of 1999, coupled with growing unease among corporations about the "millennium bug" have put disaster recovery at the top of the business agenda. Plans for corporate survival after fires, tornadoes, earthquakes and computer meltdowns are being revised and insurance policies checked.

In fact, according to a University of Wisconsin study reported in Disaster Recovery Journal, more than 43 percent of businesses never reopen and nearly 29 percent shutter within two years of experiencing some sort of local disaster. Small businesses are most at risk, as many do not have adequate disaster recovery insurance or contingency plans to cover a potential crisis.

One company benefiting from the prophets of doom is Regus Business Centres, one of the few worldwide companies able to offer instant offices to homeless companies. In fact, as the Year 2000 approaches, Regus is witnessing an increase in disaster recovery inquiries normally only seen after severe weather damage.

Regus was recently able to come to the rescue of Knoll Furniture in New York City. Knoll's downtown showroom and sales office, which had just undergone a major renovation, suddenly was the victim of a major flood. They had no place to work and a second renovation would take weeks to complete. The company needed immediate fully functioning offices for its staff of 40 people. Knoll's regional manager called their real estate broker who suggested the Regus Business Centre. The total time it took between hearing the Regus name and having the staff back in gear in new offices was a mere five days.

According to Robert Gaudreau, executive vice president of Regus Business Centres, "The bottom line is that it is critical for companies to have a contingency plan in place. With the resources available in today's world no company should have to shut down operations just because of an unforeseen catastrophe."

Regus was established in 1989 with its first serviced office suite overlooking Stephanie Square in Brussels, Belgium. Regus now operates a global network of 236 fully serviced business centres, encompassing more than 36,000 high-specification individual workstations in 44 countries. Regus is currently opening two new centres a week on a global basis. The company plans to open more than 150 centres in 1999 and will end the year with centres in 58 countries.
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Publication:Business Wire
Date:Jul 2, 1999
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