New York | Bankrupt co-working company WeWork is nearly finished shrinking its money-losing real estate portfolio and could leave court protection by the end of next month, the troubled firm said this week.
By abandoning about 150 locations and by negotiating with landlords to rewrite leases on 150 others, the company will save more than $US8 billion ($12.3 billion) in future rent, a reduction of about 40 per cent, according to WeWork. The key to reorganising has been reducing its real estate footprint, officials said.
