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The Latest Breaking News from WeWork

WeWork seeks bankruptcy protection in stunning fall for a firm once valued at close to $50B

WeWork, which has locations in Chicago, is also requesting the “ability to reject the leases of certain locations” that the company says are largely non-operational, as part of the filing.

Chicago Sun-Times

10,000 Dead

Plus: Trump's asset valuation expertise, surfer COVID rage, Adam Neumann's flop, and more…

Reason

WeWork forced to file for bankruptcy in the US

WeWork in the US and Canada is asking for bankruptcy protection, hinting that previous poor decisions are to blame.

TechRadar

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read the most diverse news in one place.

First Thing: One month of violence and war in Israel and Gaza

As Israel marks one month since the Hamas attack that killed 1,400, the Israeli PM rules out a general ceasefire and looks toward the future of Gaza. Plus: online disinformation and climate reparations

The Guardian - UK

WeWork files for bankruptcy in the US

WeWork has more than 770 sites around the world, including nearly 50 in the UK and Ireland.

The Independent UK

Co-working firm WeWork files for bankruptcy in US amid office real estate downturn

WeWork, the desk renting company co-founded by Adam Neumann, has filed for bankruptcy in order to deal with its $13 billion in outstanding lease obligations. The group, which was once valued at $47 billion, saw its meteoric rise thwarted in 2019 when its heavy losses were exposed and during the…

France 24

Regus owner IWG to swoop for office bargains after WeWork bankruptcy

A British rival to WeWork today said it was eyeing the bankrupt business’s portfolio for acquisition opportunities after it posted a boost in sales.

Evening Standard

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WeWork goes bankrupt in battle to bear down on debts

Office-sharing company WeWork has filed for bankruptcy in the US as it struggles to pay off billions of dollars of debt.

Evening Standard

WeWork seeks bankruptcy protection, a stunning fall for a firm once valued at close to $50 billion

WeWork has filed for Chapter 11 bankruptcy protection, a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world

The Independent UK

WeWork files for bankruptcy after failing to recover from Covid-19 losses

Company that provides shared working spaces has been struggling with huge debts and losses incurred during the pandemic

The Independent UK

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.

WEKU

The dizzying rise, and even more vertiginous fall, of WeWork

Company sought to present itself at the heart of myriad utopian ideals, in pursuit of ‘mission’ to ‘elevate the world’s consciousness’

The Guardian - US

WeWork, once a $47bn firm, files for bankruptcy after accruing $2.9bn debt

Company never recovered from 2019 ouster of founder Adam Neumann and remote work revolution

The Guardian - US

Stock Market Today: Stocks Enjoy Longest Winning Streak in Two Years

Markets continued to rally on hopes the Fed is done with interest rate hikes.

Kiplinger

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The Guardian - US

WeWork co-founder says anticipated bankruptcy filing ‘disappointing’

Adam Neumann says seeing company struggle has been ‘challenging’ as trading of shares was suspended

TechRadar

WeWork set to file for bankruptcy - could this be the end at last?

Years after a frankly colossal failure to go public and now under new leadership, WeWork is still struggling with its finances.

Fortune

Sam Bankman-Fried makes himself out to be an absentee CEO in new testimony

The FTX cofounder tried to distance himself from the hole in FTX’s balance sheet.

France 24

UK hosts first-ever global artificial intelligence safety summit

British Prime Minister Rishi Sunak hosts world leaders and tech executives at Bletchley Park to discuss the future of the AI industry. Also in this edition: office-sharing firm WeWork is reportedly close to filing for bankruptcy, and Greek olive oil producers face rising thefts as prices skyrocket.

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news in one place.

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Evening Standard

WeWork shares plunge on reported plans to file for bankruptcy

The New York-based group has been struggling with a huge debt pile and mammoth losses and has already seen its share price decimated this year

The Guardian - AU

Afternoon Update: more interest rate rises likely; Victorian prison officers put spit hood on child; and WeWork to file for bankruptcy

The Reserve Bank looks increasingly likely to lift the cash rate as the IMF found inflation remained ‘sticky’

Evening Standard

WeWork gets boost in London as post-Summer office bookings rise

Flexible office provider WeWork has reported a big jump in demand for space in London in September as more staff returned to desks after the school holidays.

Chicago Sun-Times

WeWork plans to renegotiate nearly all of its leases, after warning about its future

The company, which operates several locations in Chicago, said it would also exit “unfit and underperforming locations.”

The Guardian - US

Fears grow for property sector as WeWork scrambles to stay afloat

As company warns of ‘substantial doubt’ over its future, experts say consequences for commercial landlords could be dire

The Independent UK

WeWork's future: What to know after the company sounds the alarm on its ability to stay in business

WeWork said last week there was “substantial doubt” about its ability to stay in business, prompting speculation around the future of the troubled workspace-sharing company

The Independent UK

WeWork warned of 'substantial doubt’ about its ability to stay in business. Here's what that means

WeWork said last week there was “substantial doubt” about its ability to stay in business, prompting speculation around the future of the troubled workspace-sharing company

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