The business of offering offices on flexible, short leases will survive the company’s troubles, but commercial real estate experts say it will probably remain a niche.
The move is a blow for landlords who have rented space to the co-working group, which is planning a “comprehensive reorganization” that includes cutting some of its leases.
The company’s top boss, a real estate industry veteran, abruptly left in May after growing frustrated with SoftBank, its largest shareholder and lender.