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Workspace Group: Clemett, 63, leaves at a time when flexible space operators such as Workspace have outperformed the traditional landlords on the operational front in the UK, as tenants opt for short-term leases and reassess their strategies periodically amid lingering broader economic worries.
EFC (I) hopes to achieve total revenue of about Rs. 400 crore for FY24 and about Rs 1,000 crore for FY25. It reported consolidated revenue of Rs. 155 crore for H1 of FY24, which was about 1.5 times of full year of revenue for FY23.
Workspace Group: Flexible space operators such as Workspace have performed well on the operational front as tenants opt for short-term leases and reassess strategies periodically amid broader economic worries.
WeWork Bankruptcy: New York-based WeWork is considering filing a Chapter 11 petition in New Jersey, the WSJ reported, citing people familiar with the matter.
WeWork has been in turmoil ever since its plans to go public in 2019 imploded as investors worried over its hefty losses and began to doubt its business model of taking long-term leases and renting them for the short term.