IWG Plc is considering selling and leasing back offices to raise as much as 250 million pounds ($312 million) to help it weather the coronovirus pandemic, the Sunday Times reported.
The firm, which owns the Regus and Spaces brands, plans to sell and then lease back more than 10 U.K. buildings, the newspaper said.
Small business tenants of Regus have criticized the company for trying to lock them into longer leases in exchange for temporary rent reductions on offices they can’t use, according to the report.
Surveyor Doherty Baines is advising IWG on the deals, the newspaper said.
