Following WeWork’s announcement to launch a strategic reorganization process in the U. S. , the U. S. In the U. S. and Canada, WeWork South Africa confirms that it is part of the North American process.
“WeWork South Africa is one hundred percent independently owned through SiSebenza and operates independently of WeWork in the U. S. and Canada,” say Andrew Robinson and Stefano Migliore, the owners of WeWork South Africa.
“It is important to note that, as an independent entity, we are not part of this strategic reorganization process and will not affect our members, suppliers, workers and real estate components. “
WeWork South Africa’s business is strong and committed to making a long-term expansion investment and remains fully focused on delivering exceptional, state-of-the-art flexible workspace solutions to its members.
“While our opponents take care of your company’s economic situation, position your network to grow, and allow your company to continue to provide the most productive facilities to your members, our operations remain unchanged. We will continue to provide the service and enjoy what our members expect from us,” adds the local South African team whose goal is to expand the WeWork logo to Ghana, Kenya, Mauritius, Nigeria and strengthen its presence in South Africa.
Read also: WeDid’tWork: WeWork due to bankruptcy in the United States
The flex-area company WeWork, once valued at $47 billion, filed for Chapter 11 bankruptcy in the United States.
WeWork, humorously dubbed by some as WeDid’tWork, is confident that its franchisees around the world will be affected by these procedures. The bankruptcy filing particularly affects WeWork’s headquarters in the U. S. and Canada.
In an official statement, the New York-based company defined its strategic plan, emphasizing a plan to maximize value. WeWork intends to reject rentals for non-operational express sites, and will deliver benefits to all affected members. This decision is part of their efforts to position the company for operational and monetary success.
“It’s the WeWork network that makes us successful. Our more than one million members around the world look to us for the spaces, hospitality and generation offered by our 2,500 committed workers and valued partners. WeWork has a strong foundation, a colorful company, and a bright future,” said David Tolley, CEO of WeWork.
“Now is the time to move into the long term by aggressively addressing our existing rents and particularly our balance sheet,” Tolley continued.
The article WeWork South Africa Not Affected by WeWork Reorganization appeared first on TechFinancials – Reliable Tech News.
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