19
Mar
WeWork Renegotiates 8 More Leases, Delays Financial Reporting Again
WeWork has renegotiated another set of leases, maintaining its presence in seven U.S. locations and one in Canada as it attempts to emerge from Chapter 11 bankruptcy.
Two of the locations it is holding onto are in the Midtown South area of Manhattan, while three others are in California. While three of the landlords won’t be receiving any initial cash as part of the lease assumptions, WeWork has agreed to cure nearly $2M in rent arrears at the other five locations, according to a document filed in New Jersey bankruptcy court.
WeWork secured reduced rent at all eight locations and reduced the size… Bisnow News Feed
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