2023-11-07 21:13:55
WeWork, which has never made money, has accumulated nearly $17 billion since its launch in 2010. ANTHONY WALLACE/AFP
STORY – The American shared office giant has filed for bankruptcy and placed itself under bankruptcy protection.
The beautiful story turned into a nightmare. WeWork, the former American star of shared offices, filed for bankruptcy Monday evening. The haphazard management of its founder, Adam Neumann, the pandemic and the downturn in the office real estate market got the better of what was once the most promising start-up in the United States. Valued at $47 billion at the height of its glory in 2019, it is now worth only $44.49 million on the stock market.
The fall is dizzying. WeWork, which has never made money, has accumulated nearly $17 billion since its launch in 2010. Cornered, the company filed for Chapter 11 bankruptcy protection, which allows a company to renegotiate its debt with its creditors, while remaining in business. This procedure, announced several days ago by the media across the Atlantic, only concerns the American and Canadian subsidiaries of WeWork.
WeWork will continue to streamline its commercial lease portfolio, terminating leases at a number of locations
WeWork
“WeWork’s activities in France are not part of this process and are…
This article is reserved for subscribers. You have 83% left to discover.
Do you want to read more?
Unlock all items immediately.
Already subscribed? Log in
#WeWork #irresistible #fall #coworking #star