Regus has declared war on its landlords by threatening to dump hundreds of lease commitments.
IWG is set to put its Jersey-registered subsidiary, Regus plc, into insolvency within days, effectively cancelling £790m of lease agreements across 500 properties.
Mark Dixon’s firm wants landlords to slash their rents to bring them more in line with where he feels the market has rebased.
One landlord said: “This was not about Covid — this was clearly pre-determined … It is immoral at best.”
