IWG will potentially sell and lease back its office buildings in order to raise between £200 million and £250 million to alleviate the blow of the coronavirus lockdowns.
IWG currently owns various flexible workspace brands, such as Regus, Spaces, Signature by Regus, HQ and many more.
Small business tenants of Regus had recently criticized the company after it reportedly tried to sign them onto longer leases in return for rent reductions. Additionally, the company had been served a statutory demand by a consulting firm, who claimed Regus withheld its deposit worth two months rent.
Mark Dixon, CEO of Regus, said that tenants have been given fair offers under current circumstances.