WeWork shares sink on reports of imminent plans for bankruptcy filing
- WeWork shares tanked over 35% in premarket trading on Wednesday after media reports that the flexible workspace provider was planning to file for bankruptcy as early as next week.
The New York-based firm, struggling with a heavy debt load and hefty losses for a few years now, was once privately valued at $47 billion and now has a market capitalization of just about $121 million. The bankruptcy filing would follow a series of troubles for the SoftBank-backed company since its IPO plans imploded in 2019 on skepticism over its business model of taking long-term leases and renting them for short term.
WeWork, which finally went public in 2021 at a much reduced valuation than initially expected, remains a black spot for SoftBank will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
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WeWork shares sink on reports of imminent plans for bankruptcy filingWeWork shares (WE.N) tanked over 35% in premarket trading on Wednesday after media reports that the flexible workspace provider was planning to file for bankruptcy as early as next week.
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WeWork plans to file for bankruptcy, Wall Street Journal reportsBill Peters is a Los Angeles-based MarketWatch reporter who covers earnings.
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WeWork plans to file for bankruptcy, WSJ reports; stock plungesWeWork in August said there was ‘substantial doubt’ about its ability to stay in business
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WeWork plans to file for bankruptcy as early as next weekWeWork plans to file for bankruptcy as early as next week - source
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WeWork plans to file for bankruptcy as early as next week, source saysWeWork (WE.N) plans to file for bankruptcy as early as next week, a source familiar with the matter said on Tuesday, as the SoftBank Group-backed company struggles with a massive debt pile and hefty losses.
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