Regus Shared Office Space Units File for Bankruptcy Protection

Aug. 17, 2020, 2:36 PM

RGN-Group Holdings filed for bankruptcy, becoming the latest U.S. subsidiary of co-working space provider IWG Plc to seek court protection from creditors because of the pandemic.

  • RGN and its affiliates owe IWG’s Regus unit about $433 million according to court papers filed in U.S. Bankruptcy court in Wilmington, Delaware
  • The companies have applied to use new bankruptcy rules typically reserved for small businesses according to court papers; Subchapter V of the bankruptcy code, allow small companies to reorganize more quickly and cheaply than than normal
  • IWG operates more than 1,000 shared workspace locations around the world and its Regus ...

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