Trading in 300,000 square feet at the former Montgomery Ward catalog warehouse for one floor in the Leo Burnett building is a reflection of both the challenging office market and the decline at Groupon, which has been losing money for years and issued a going concern warning in May, signaling the company could be headed for insolvency.
Senkypl, a Czech investor and Groupon's largest shareholder, took over as interim CEO in March and has been attempting to execute a turnaround strategy. Step one has been cutting costs, such as terminating the company's lease at 600 W. Chicago Ave. - two years early - as of January.
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