As Wework’s troubles continue, the company’s competitors are taking advantage Property Troubled Wework is continuing to scale back its offices in London following the filing of bankruptcy in its home market of the US.
Mark Kleinman: WeWork’s decline foretells trouble in the property market MUST-READ COLUMN Mark Kleinman is Sky News’ City Editor and is the man that gets the City talking in his weekly City A.M. column.
Fora chief: Wework trouble ‘doesn’t reflect the strength’ of London’s flexible market Flexible working Enrico Sanna, the chief executive of Fora, said the troubled situation Wework is facing “doesn't reflect the strength of the market”.
London office vacancy rates to rise in City, Wharf and West End amid Wework trouble January 22, 2024 London office vacancy rates are expected to rise by the end of the year, in another blow for the health of the capital’s commercial property market.
Wework founder Adam Nuemann bids to buy co-working firm back for £394m March 26, 2024 Wework founder Adam Neumann has submitted a $500m (£394m) bid to buy back the troubled coworking business.
Wework founder Adam Neumann iced out of £359m bankruptcy deal April 30, 2024 Troubled office space provider Wework has unveiled a new plan to absolve itself from bankruptcy, and it does not involve Adam Nueman its founder who was looking to regain control of the business.
Wework dragged to court over refusal to give up lease on London Southbank office January 24, 2024 Embattled co-working space Wework is being dragged to court because it is refusing to forfeit the lease at one of its most profitable locations on London’s Southbank, according to reports. Almacantar, the property developer who oversees the building at 10 York Road, has been trying to kick the troubled American firm out since it filed [...]
Helical extends London Wework lease amid takeover talks April 22, 2024 Property investment and development company Helical has extended its lease with Wework until June following a decision late last year to remove the struggling hybrid workplace provider after it could no longer pay its rent.
Wework credit rating slashed after casting doubt over its future August 17, 2023 Troubled office space provider Wework saw its credit rating slashed yesterday evening after the firm cast doubt over its ability to continue operating. US credit rating agency Fitch Ratings cut Wework’s rating from CC to CCC. This is one of the lowest rankings on the credit rating scale, and means the agency believes there is [...]
Renting a Wework office? Here’s what happens next November 7, 2023 If Wework did go under in the UK, it wouldn't be all doom and gloom for the wider market, experts say