WeWork, which was valued at $47 billion at the height of its rise in 2019, filed for Chapter 11 bankruptcy Monday.But uncertainty remains for WeWork's operations in London and the international offices, as property groups debate whether to end their lease agreements.
The company's restructuring may also have implications for its London operations, where it is one of the biggest tenants. The largest single landlord with exposure to WeWork's financial troubles is Almacantar's 290,000-square-foot Southbank West in Waterloo, CoStar said.Fmr WeWork CEO Adam Neumann on latest venture 'Flow': The need for community has never been greaterThe most exposed London submarket is City Core North, where WeWork occupies 684,000 square feet.
Tailor has been at his WeWork building for eight years, he said, and found it accommodating as a space to work from, with the office offering free beers on tap. The company tried and failed to go public five years ago, and has since been heavily affected by the Covid-19 pandemic, which caused further pain as many companies abruptly ended their leases.In an August regulatory filing, WeWork disclosed thatThe company has said its spaces remain open and operational, and that it will continue to provide members with its co-working experiences.
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