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Regus sends six NYC locations into Chapter 11

Co-working firm Regus, which went through a bankruptcy restructuring in 2003 after the dot-com recession, has put nearly 90 locations into Chapter 11 in the past couple of months. This week, the company filed for six locations in Manhattan, Brooklyn, and Long Island City.

  • Worth Noting: CEO Mark Dixon said the firm plans to accelerate its plan to trim four percent of its global portfolio in response to Covid-19. Regus occupies around 1,000 office spaces the in the United States and Canada.
  • Regus NYC locations in bankruptcy: Paramount Group’s 1325 Sixth Avenue, Levin Properties’ 1501 Broadway, Brookfield Properties’ 424-434 West 33rd Street, and EQ Office’s 1740 Broadway in Midtown; Normandy Real Estate Partners’ 175 Pearl Street in Dumbo; Jamestown Properties’ 31-00 47th Avenue in LIC. [BusinessJournal+TRD]

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