EG quotes Alison Goldthorp on WeWork's restructuring plans
Earlier this month, WeWork chief executive David Tolley published a statement saying the financially troubled firm has started discussions with landlords around the world to renegotiate almost all of its leases and exit any that are deemed “unfit”.
Alison Goldthorp, Partner, provides comment for EG on WeWork's restructuring plans:
While this could be the start of a process of individual negotiation with WeWork’s thousands of landlords, it is more likely to lead, in the UK at least, to a court-approved restructuring plan that results in the cutting of underperforming locations, with remaining landlords being forced to accept significantly reduced terms.
Alison references Prezzo's and Fitness First's restructuring plans as examples.
Read the full article in EG here (subscription required).
