The company hopes to restructure its balance sheet and get out of numerous, expensive commercial leases while some locations stay open and operational.
Not since Alexander Payne’s 2017 movie have we seen downsizing upset so many people. Yesterday in bankruptcy court, WeWork asked landlords representing nearly $3 billion of the failed company’s debt to please, please, pleeease be open to renegotiating and canceling its leases.
The SoftBank-backed, short-term office space rental company that heavily overused the word “community” and plunged from a $47 billion valuation in 2019 to ~$44.5 million now filed for Chapter 11 bankruptcy on Monday evening. The company hopes to restructure its balance sheet and get out of numerous expensive commercial leases while keeping some locations open and operational.
...moreThe SoftBank-backed, short-term office space rental company that heavily overused the word “community” and plunged from a $47 billion valuation in 2019 to ~$44.5 million now filed for Chapter 11 bankruptcy on Monday evening. The company hopes to restructure its balance sheet and get out of numerous expensive commercial leases while keeping some locations open and operational.
WeWork’s shrinking floor plan is everyone’s problem....
RSK: It will be everyone in the office world`s problem for sometime.
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- - Volume: 11 - WEEK: 46 Date: 11/14/2023 3:24:19 PM -