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Spurned WeWork Landlords Push Back as Rent Negotiations Heat Up.

Authors :
Ronalds-Hannon, Eliza
Pollard, Amelia
Basu, Reshmi
Source :
Bloomberg.com; 11/21/2023, pN.PAG-N.PAG, 1p
Publication Year :
2023

Abstract

WeWork, the co-working space provider, is facing objections from some of its landlords regarding its plans to shut down nearly half of its locations in the US and Canada as part of its bankruptcy proceedings. Landlords are pushing back on WeWork's timeline for rejecting leases and rules that they believe unfairly favor the company. WeWork is currently in negotiations with landlords for rent cuts and other concessions, but must be careful not to push too aggressively and risk losing landlords altogether. The case will likely hinge on the landlords' strategies for renegotiating leases. [Extracted from the article]

Details

Language :
English
Database :
Complementary Index
Journal :
Bloomberg.com
Publication Type :
Periodical
Accession number :
173752121