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Coworking Spaces

All articles tagged with #coworking spaces

business2 years ago•3 min saved

The Rise and Fall of WeWork: A Spectacular Crash

WeWork's bankruptcy marks the end of an era for enormous coworking spaces with luxurious amenities, according to Jamie Hodari, CEO of rival company Industrious. Hodari believes that the large office blocks and extravagant features were a major flaw in WeWork's strategy, contributing to its downfall. While many WeWork locations may change hands, the extremely large spaces are unlikely to be viable for other companies. The collapse of WeWork could have dire consequences for commercial real estate, but Hodari remains optimistic about the broader coworking industry.

via Business Insider|

#bankruptcy #business #commercial-real-estate

business2 years ago•3 min saved

WeWork's Imminent Bankruptcy Threatens $47 Billion Valuation

WeWork, the once high-flying coworking-space provider, is reportedly nearing bankruptcy as its market capitalization plummets to $60 million. The company, which was valued at $47 billion in 2019, has consistently incurred substantial losses, with a net loss of $2.3 billion in 2022 and $696 million in the first half of 2023. WeWork recently missed interest payments and has entered into negotiations with bondholders to avoid default. The company has been struggling with heavy debt and declining demand, leading to warnings of its ability to continue as a going concern. WeWork's future hinges on successful execution of a plan to improve liquidity and profitability, including lease restructuring and cost reduction measures.

via Ars Technica|

#bankruptcy #business #coworking-spaces

business2 years ago•2 min saved

"Vermont Embraces Remote Work as a Post-Pandemic Norm"

Remote work continues to be a popular option in Vermont even after the pandemic, with many companies allowing employees to work remotely or in hybrid setups. Coworking spaces like Do North Coworking in Lyndon have seen an increase in demand for office space, with more people looking for a desk outside their homes. While remote work offers benefits such as a broader talent pool and aligning with the state's population goals, it also presents challenges for businesses in terms of competing on wages and benefits. The future of empty building spaces belonging to former in-person companies remains uncertain as leases begin to turn.

via WCAX|

#business #coworking-spaces #hybrid-work

business2 years ago•1 min saved

WeWork's Uncertain Future: From Valuation to Doubts

WeWork expressed "substantial doubt" about its ability to stay in business due to losses, projected cash needs, and increased member turnover. The company outlined a plan to improve its financial health, including negotiating more favorable lease terms and reducing canceled memberships. WeWork's stock plunged over 20% in after-hours trading and is down 85% since the beginning of the year.

via CNN|

#business #coworking-spaces #financial-health