Live Breaking News & Updates on Montreal Based Breather Products

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IWG PLC, the world’s biggest co-working company, is trying to adapt its business model to reduce its exposure to long-term office leases as dozens of its locations in Canada and the United States restructure under creditor protection.
The pandemic’s work-from-home mandates have exacerbated weaknesses with the co-working business of rent arbitrage.
IWG and other flexible office providers such as WeWork and Knotel have had to continue paying rent on their long-term property leases while their revenue evaporated because their short-term subtenants stopped using their space.
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Now, Swiss-based IWG will focus on a plan to get out of rent arbitrage and move to franchises, a model in which franchisees will be responsible for the office leases. As well, it is pursuing partnerships with landlords where IWG would act as the property manager and not be on the hook for the office lease. ....

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