WeWork CEO says company is ‘here to stay' as it renegotiates ‘nearly all our leases'

Embattled office-sharing company WeWork is starting an effort to renegotiate leases across the globe as it tries to stay solvent.

in a public letter on Wednesday that the embattled business is"here to stay" and that it's immediately undergoing an effort to rework its leases worldwide.

"Today, we are kicking off a process of global engagement with our landlords to renegotiate nearly all our leases," Tolley wrote."As part of these negotiations, we expect to exit unfit and underperforming locations and to reinvest in our strongest assets as we continuously improve our product."warned

in a filing a month ago that bankruptcy could be a concern, as there's doubt about its ability to keep operating as a"going concern" due to mounting losses and dwindling cash. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly

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