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IWG chief exec joins £320m fundraise

The global office operator sees opportunities to expand as rivals are squeezed by the Covid-19 fallout
IWG chief exec joins £320m fundraise

When flexible workspace provider IWG (IWG) updated the market back in March, it warned of pressure across its global business as countries implemented lockdown measures in response to Covid-19. At the end of May, it revealed that revenue from its more mature estate – which excludes new locations opened in 2019 – rose by 7.6 per cent at constant currencies in the first three months of 2020, to £623m. But this gave way to a 2.9 per cent decline in April and the group is guiding to a tougher second quarter.

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