WeWork Moves To Reject 9 More Leases As Landlords Push For Back Rent
WeWork's landlords have also petitioned the court in search of unpaid January rent.
WeWork's landlords have also petitioned the court in search of unpaid January rent.
WeWork rejected its 135K SF lease at the building, which is the subject of a foreclosure action by its lender.
WeWork to emerge as a private company with a smaller real estate portfolio in mid-June.
WeWork might not be able to complete its reorganization if it can't raise money through a debtor-in-possession facility, the company said in a new filing.
Landlord attorneys argue over calls for an examiner in the case prior to a hearing Monday.
At many locations, WeWork managed to reduce its premises and rent.
The coworking operator has rejected its lease at 711 Atlantic Ave., marking the fourth location to close in the city.
The company said it will exit 150 global locations and keep at least 300 under existing or renegotiated lease terms.
WeWork needs to raise as much $400M to emerge from bankruptcy as its former CEO's new startup, Flow, offers to buy out the firm at a 10% premium.
WeWork has shed just less than a third of its London office space.
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