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.
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.
WeWork's hopes of restructuring via the bankruptcy process rely on altering many of its leases.
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.
The coworking operator's stock regained all of its losses from earlier in the week.
The coworking giant plans to emerge with 337 locations and a path to profitability, all while ignoring Adam Neumann's bid.
The coworking operator plans to reject its 241K SF lease at One Lincoln St. in the city's financial district.
The company and its landlords raised concerns that competitors could poach its customers if the names were exposed in court.
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.
Read the list of every NYC lease WeWork is looking to reject.
WeWork has asked landlords in London for rent cuts of up to 50%.
We're not asking for your money. This is not a step towards a paywall. Our news is free and we intend to keep it that way.