WeWork plans to exit bankruptcy with Yardi as majority shareholder
US: WeWork’s lawyers have revealed that under its plan to exit bankruptcy, property management software provider Yardi Systems would become the company’s majority shareholder.
US: WeWork’s lawyers have revealed that under its plan to exit bankruptcy, property management software provider Yardi Systems would become the company’s majority shareholder.
US: WeWork says it expects to be out of Chapter 11 bankruptcy by the end of next month, having renegotiated or exited 90 per cent of its leases.
US: WeWork, which was once valued at $47 billion, has been filed for bankruptcy in the US.
Worldwide: WeWork has decided not to make interest payments totalling around $95 million, and has announced the closure of one of its major London properties.
US: WeWork has begun formal negotiations with all its landlords over its lease commitments.
US: WeWork has issued a warning to investors that it may not be able to continue as a viable business.