Flexible Offices Will Be Crowded After Covid-19
Wall Street Journal
Companies such as WeWork—which is in talks to go public, The Wall Street Journal reported in January—and Regus IWG -0.98% owner IWG had a harsher pandemic than regular office landlords. A risky business model where they sign long leases and sublet space on short-term contracts meant that many of their tenants bailed out quickly. WeWork’s global occupancy rate dropped to 47% at the end of 2020 and it lost $3.2 billion, according to an investor pitch seen by the Financial Times. IWG also racked up…
