Denver Real Estate Attorney Ann Chandler for Law 360 - Potential WeWork Bankruptcy May Disrupt Coworking Spaces

September 2023

By: Ann K. Chandler

Law 360

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Denver Real Estate Attorney Ann Chandler for Law 360 - Potential WeWork Bankruptcy May Disrupt Coworking Spaces

If WeWork Inc., the world's largest coworking space provider, files for bankruptcy, as it hinted in its second quarterly earnings report, the filing will have substantial negative impacts on the landlords of the millions of square feet of office space worldwide from which WeWork leases space, the individuals and businesses that are using WeWork's office spaces, and the lenders of the buildings in which WeWork's leased premises are located.

The pandemic significantly affected the operation of coworking spaces. However, WeWork was experiencing significant losses prior to 2020 including posting a $2 billion loss in 2019.