Office-sharing company WeWork filed for Chapter 11 bankruptcy protection in federal court Monday. Valued in 2019 at $47 billion in a round led by Masayoshi Son’s SoftBank, the company tried and failed to go public five years ago. It disclosed in an August regulatory filing that bankruptcy could be a concern. The WeWork logo is displayed outside of a shared commercial office space building in Los Angeles, California on August 8, 2023. Embattled office-sharing firm WeWork on August 8 warned US regulators that it is worried about its survival. Citing financial losses, cash needs, and a drop in memberships, WeWork said in a filing with the Securities and Exchange Commission (SEC) that “substantial doubt exists about the company’s ability to continue as a going concern.” (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images) Patrick T. Fallon | Afp | Getty Images
Office-sharing company WeWork filed for Chapter 11 bankruptcy protection in New Jersey federal court Monday, saying that it had entered into agreements with the vast majority of its