With its trendy locations and offers of free beer, WeWork succeeded in making flexible office space cool. There was just one problem: the company could not make it pay.
WeWork’s slide into US bankruptcy on Monday (Tuesday AEDT), under the weight of more than $US13 billion ($20 billion) in office lease obligations, has cast a shadow over flexible workspace providers on both sides of the Atlantic and sharpened fears about financial distress for office landlords struggling with the move to working from home.
