Tuesday, November 24, 2020
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WeWork Puts its Spanish Subsidiary Up For Sale

The American multinational is going through a serious financial crisis due to the decline in demand for coworking spaces and so has decided to put its business in Spain up for sale through CBRE.

WeWork, the company specialising in coworking spaces has put its Spanish subsidiary up for sale and has engaged the consulting firm CBRE to manage the process, according to El Confidencial.

The American multinational is going through a serious financial crisis due in large part to the low demand for its office space. In August, the Japanese bank Softbank had to inject another 1 billion euros into the company through a senior debt issue. However, the firm had already consumed more than 8.5 billion euros from the Japanese entity.

Read the full article in Spanish.

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