WeWork and its landlord Almacantar have reached a settlement in a High Court battle over the co-working group's flagship 290,000-square-foot office in London.
WeWork's turnaround plan assumed it would exit 163 global locations including 43 outside the United States and Canada in the run-up to the flexible office space provider's bankruptcy filing this week.
WeWork, the under-pressure US flexible offices giant seeking rent cuts across its global portfolio, briefly moved its occupiers at The Bower in London's Old Street to alternative accommodation last Friday before finalising an 11th-hour agreement to stay with landlord Helical.
Landlords and tenants at millions of square feet of space operated by WeWork across the globe will be reviewing worst-case scenarios after the coworking giant warned "substantial doubt exists" about its ability to continue as a going concern.
WeWork, the global flexible space provider, has secured Multiverse, the UK tech "unicorn" which trains entrepreneurs via professional apprenticeships, for its London headquarters at 2 Eastbourne Terrace in Paddington.
WeWork, the global coworking space provider, has received a non-compliance notice from the New York Stock Exchange as its share price has refused to budge above $1 a share for 30 trading days.
Global flexible space provider WeWork said demand in the first half of 2021 improved at a slower pace than it expected and it's cutting its forecast because of the unpredictability of the pandemic with the emergence of the delta variant.
Here’s another way brick-and-mortar retailers are rethinking the use of their space: Luxury retailer Saks Fifth Avenue plans to debut a shared office concept called SaksWorks that will be managed by global coworking company WeWork.
WeWork, the New York-based shared office provider, is bringing an on-demand service that requires no monthly commitment to 12 locations in Canada to tap demand as companies adopt hybrid work models as pandemic restrictions ease.
International Workplace Group, the world’s largest shared-office provider, is looking to expand its recently released franchise model into Canada and is actively talking to potential partners, according to the company’s head of operations in North America.
Shared office space provider WeWork has engaged two major real estate brokerage firms to handle its work space listing business in Montreal and Toronto, part of partnerships that began in 2020 and are now expanding to Canada's two largest cities.
The Arpeg Group of Companies is looking to create its own sort of hub for office workers in response to the pandemic, with lease terms it said will set it apart from coworking companies and traditional landlords.
Flexible office provider WeWork's valuation plummeted to $2.9 billion, a 94% decrease from its high point of $47 billion early last year, as its main investor SoftBank Group Corp. announced massive losses and wrote down its investments.
SoftBank Group Corp. could pull out of $3 billion in bailout commitments to coworking firm WeWork as the troubled flexible office company battles to stay afloat during the escalating COVID-19 crisis that has closed offices and other businesses across the country.
If the blockbuster announcement of Amazon securing all of the 1.13 million square feet within The Post redevelopment at 349 West Georgia at the end of 2019 wasn’t enough, the tech giant has now announced further plans to expand its presence in downtown Vancouver.