4 ms·
I thought companies walk away from leases all the time. Every restaurant you’ve ever eaten at the is no longer there probably bailed on a lease.
by matt-attack 7y ago
I thought companies walk away from leases all the time. Every restaurant you’ve ever eaten at the is no longer there probably bailed on a lease.
- ineedasername 7y agoBankruptcy is a different story than a company just deciding, "Nope, we don't want the lease anymore". And most restaurants are structured as an LLC and owned by the parent corporation (or just independently owned by individuals) who can shut down the business and not be on the hook for any debts that were not secured with a personal guarantee.
- konschubert 7y agoWeWork is structured the same afaik.
- ineedasername 7y agoThen unless the LLC's operated on credit secured by a WeWork guarantee, if the LLC dissolves then WeWork probably couldn't be sued for the broken lease. However I'm not a lawyer, much less one specializing in LLC liabilities etc.