WeWork files for bankruptcy in a stunning downfall from its $47 billion heyday
With its flexible office spaces, WeWork once was seen as a Silicon Valley darling led by an eccentric and charismatic founder. Financial troubled intervened, followed by the pandemic.
WeWork, the once-buzzy startup that was valued at $47 billion at its peak, filed for Chapter 11 bankruptcy protection on Monday in federal court in New Jersey.
In its bankruptcy petition, the company listed about $15 billion in assets and more than $18 billion in debt. It also has around $100 million in unpaid rent.
The company said 92%
