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WeWork's Biggest Landlords Balk At SoftBank's Proposed Bankruptcy Financing Plan
Boston Properties, Brookfield and Starwood are among the firms seeking to reject a proposal that would see SoftBank place liens on WeWork's remaining spaces.
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Boston Properties, Brookfield and Starwood are among the firms seeking to reject a proposal that would see SoftBank place liens on WeWork's remaining spaces.
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WeWork's hopes of restructuring via the bankruptcy process rely on altering many of its leases.
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WeWork can walk away from 67 leases, the judge overseeing the coworking firm's bankruptcy said, as it looks to shed at least six other locations.
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The coworking operator's stock regained all of its losses from earlier in the week.
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The coworking giant plans to emerge with 337 locations and a path to profitability, all while ignoring Adam Neumann's bid.
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The coworking operator plans to reject its 241K SF lease at One Lincoln St. in the city's financial district.
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The company and its landlords raised concerns that competitors could poach its customers if the names were exposed in court.
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WeWork's quarterly earnings and new board appointments signal it may be heading for bankruptcy, which could devastate office owners in New York and elsewhere.
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Read the list of every NYC lease WeWork is looking to reject.
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WeWork has asked landlords in London for rent cuts of up to 50%.
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