3/27, 5:43 AM (Source: TeleTrader)
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WeWork plans rearranging leases over coronavirus - report

Real estate company WeWork is in talks to acquire external help for renegotiating its leases due to the coronavirus pandemic, the New York Post reported on Thursday.

The American firm considers hiring brokerage Newmark Knight Frank, as well as advisory company Jones Lang LaSalle (JLL) in an attempt to "rightsize the business and optimize its real-estate portfolio."

Earlier in the day, WeWork assured its investors the company is confident in its long-term prospects and performance, and that its $4.4 billion funds should be enough to overcome short-term challenges like COVID-19 crisis.

Breaking the News / ND