From the beginning, negotiations between landlords and WeWork have been tense, as the company looks to drop some leases, force significant cuts in others though the bankruptcy process. And things have gotten worse.
According to multiple reports, the company's restructuring efforts are moving along like a bicycle that hasn't been lubricated or tuned up in decades, according to the landlords and creditors who are owned a lot of money.
"The company has failed to update its business plan, left details out of a key reorganization proposal and is either unwilling, or unable, to pay the rent on at least some of the office space WeWork uses to make money, creditor lawyers told the judge overseeing WeWork's Chapter 11 bankruptcy," wrote Bloomberg.
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