Property
WeWork files for bankruptcy with debts of almost $19bn
The US co-work space provider was once valued at $47bn but is almost worthless today
WeWork, the US co-work space provider, has filed for bankruptcy with debts of almost $19 billion in a bid to restructure the company’s unsustainable borrowings.
On Monday night, the New York-based company, which was once valued at $47 billion, filed for a chapter 11 bankruptcy petition in New Jersey, which stated WeWork has assets of around $15 billion.
The firm said it had struck a restructuring agreement with creditors representing over 90 per cent of ...
