Regus Puts Portion of Its Portfolio into Chapter 11

RGN Group Holdings LLC, the company that operates Regus shared office suites, has voluntarily filed for Chapter 11 protection in the U. S. Bankruptcy Court for the District of Delaware for a segment of its portfolio. Included in the filing, representing a small portion of Regus’ portfolio, were locations in New York City, Chicago and San Francisco, among other markets.

The pandemic has “severely disrupted business plans and operations for certain locations within the company’s U.S. portfolio,” the company said in court documents. “With the near universal adoption of work-from-home policies by U.S. businesses during the early months of the pandemic, demand for temporary office space has been depressed…”

   ...more

RSK: Time to tighten the ship. I am betting they will survive however.

Ken Notes: Again we should have called a time out when we mandated closures and used the three trillion dollars (a lot less actually) to fund the interest on loans until after Covid subsides then assessed the damage and developed a plan for recovery. Instead we tried to rebuild whaile the storm raged on...



- - Volume: 8 - WEEK: 35 Date: 8/25/2020 6:32:36 AM -