Adam Neumann’s WeWork roller-coaster ride is finally finished. Three months after news broke that Neumann was planning to buy back the bankrupt coworking startup which ousted him as CEO in 2019, he’s backing down after a New Jersey bankruptcy judge nixed his bid.
“For several months, we tried to work constructively with WeWork to create a strategy that would allow it to thrive,” Neumann said in a statement to the New York Times’ DealBook newsletter. “Instead, the company looks to be emerging from bankruptcy with a plan that appears unrealistic and unlikely to succeed.”
