WeWork Expects to Emerge From Bankruptcy by the End of May, Predicting $8 Billion in Rental Savings

WeWork, a struggling co-working room service, says it expects to go bankrupt by the end of May, touting lease-restructuring work that it think does save$ 8 billion in upcoming hire savings.
WeWork has been making real estate costs less expensive since the New York-based business filed for Chapter 11 bankruptcy in November. WeWork attempted to restructure nearly all of its contracts at the time, reporting that hire liabilities accounted for about two-thirds of its operating expenses.
In an upgrade Tuesday, WeWork said it had “determined a final course ahead” at 90 percent of the bank’s about 500 wholly owned areas in its worldwide real estate portfolio, including through agreements to update or accept leases….

Source credit