As Covid-19 squeezes demand for offices, shared workspace provider IWG (IWG) is set to place its Jersey-based subsidiary, Regus plc, into insolvency. The move is designed to send a signal to landlords that unless they are prepared to lower their rents, IWG is willing to walk away from its lease obligations. IWG says that it has resorted to insolvency measures because “the Covid-19 pandemic is a black swan event and it has severely impacted our business and presented us with unforeseen challenges"
The River Garden II/III office complex in the popular Prague 8 locality of Karlín has welcomed an important new tenant. The largest global provider of flexible workplaces, Regus, has leased almost 1000 square meter of category A office space.
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