Despite IWG (International Workplace Group’s) loss of more than $300 million during the first half of 2020, they are planning to offer small, socially distant offices closer to employees’ homes. This avoids the need to travel using public transportation, while giving employees a reason to get out of their homes.
IWG’s subsidiary, Regus has declared insolvency in the UK in order to negotiate its leases. Similarly, in the US Regus has filed bankruptcy that affects 100 locations.
In spite of the financial difficulties coworking spaces are facing they will persist longer than Covid-19 will.
Contact GE Grace for coworking spaces that have not filed for Chapter 11.