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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.
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WeWork's landlords have also petitioned the court in search of unpaid January rent.
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WeWork rejected its 135K SF lease at the building, which is the subject of a foreclosure action by its lender.
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WeWork to emerge as a private company with a smaller real estate portfolio in mid-June.
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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.
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Landlord attorneys argue over calls for an examiner in the case prior to a hearing Monday.
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At many locations, WeWork managed to reduce its premises and rent.
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The coworking operator has rejected its lease at 711 Atlantic Ave., marking the fourth location to close in the city.
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The company said it will exit 150 global locations and keep at least 300 under existing or renegotiated lease terms.
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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.
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WeWork has shed just less than a third of its London office space.
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