WeWork expects to emerge from bankruptcy by the end of May, predicting $8 billion in rental savings

Embattled co-working space provider WeWork says it expects to emerge from bankruptcy by the end of May, touting lease-restructuring efforts that it estimates will bring $8 billion in future rental savings. Cutting back on real estate costs has been a top priority for WeWork since the New York-based company filed for Chapter 11 bankruptcy in November. Now, WeWork says it has “determined a final path forward” in 90% of the company’s about 500 wholly owned locations in its global real estate portfolio. WeWork also says that it had reached an agreement with holders representing 92% of its secured notes to eliminate more than $3 billion in debt obligations.