WeWork, shortly after warning about its future, seeks to renegotiate nearly all of its leases
Jonathan Adelsberg, co-chair of the Real Estate Department, was quoted by The Associated Press in an article discussing the news that WeWork will attempt to renegotiate nearly all of its leases and may exit some properties after previously noting that its ability to remain in business is in question.
"Among my clients that have WeWork as a tenant, there is obviously overall concern about its viability and a concern for them filing for Chapter 11 (bankruptcy protection)," said Jonathan.
The article noted that, "He added that upcoming renegotiations will be complicated because each of WeWork’s lease agreements are different."
While a bankruptcy restructuring might not lead to large-scale WeWork location closures, Adelsberg and others note that there’s been concern about WeWork’s viability in a number of buildings for years.