PropertyLaw.guru Blog

WeWork or WeGoBust?


We Won't - Will the biggest non-govt occupier on office space in London go bust in the next 6 months, making the Arcadia group/Debenhams look like a side show? Read this guardian article (esp the eyebrow raising 2nd half . If WeWork were to go bust, its landlords will struggle to collect the promised lease payments they are owed. That could leave property companies struggling to pay their bank loans, and in turn leave banks facing losses.
WeWork lets most of its space on short-term lets to startups and small companies, which are more vulnerable in a recession. That means that WeWork itself could be more vulnerable to collapse in an economic downturn.

https://www.theguardian.com/business/2019/sep/28/hubris-of-a-high-flyer-how-investors-brought-wework-founder-down-to-earth



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