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Regus Units’ ‘Home Run’ Bankruptcy Plan Gets Court’s Approval

Aug. 19, 2021, 6:16 PM

Shared workspace provider Regus Corp.'s bankrupt subsidiaries won court approval of their bankruptcy plan, allowing the company to keep operating in most of its approximately 1,000 North American locations.

The plan, approved Thursday, is a “monumental achievement in the face of challenging and uncertain circumstances,” created by pandemic shutdowns, the debtors said in an Aug. 17 court filing.

Regus, which isn’t itself in bankruptcy, is providing a $163.5 million exit loan. The Addison, Texas-based company also is contributing $2.25 million to landlords and another $1.5 million to pay other creditors.

Regus owns equipment and furnishings that its subsidiaries ...