IWG Threatening Landlords With Bankruptcy Unless Given Rent Cuts: REPORT

Coworking giant IWG, which runs the Regus brand across the globe, is threatening to dump even more of its leases into bankruptcy unless landlords reduce rents.

IWG is set to declare its U.K.-based Regus subsidiary insolvent “in a matter of days,” erasing over $1B in lease guarantees in its 500 global locations, The Sunday Times reported. The company already has tossed a number of individual leases into U.S. bankruptcy courts over the past month, including locations in Atlanta, Chicago, Miami, Austin, New York and Washington, D.C.

Read Full Article: bit.ly/36lAVcD