WeWork, the beleaguered coworking space company, has filed for bankruptcy, marking a stunning downfall for what was once the world’s most valuable startup. The Chapter 11 bankruptcy announcement was widely expected after the company said last month it was struggling to pay back its debt. The pandemic rocked WeWork as people started working from home instead of commuting into office spaces. WeWork said it would remain open and operational as it renegotiates its leases and debt obligations. David Tolley, a WeWork board member, stepped up as interim chief executive and was officially named CEO in October.

Source: CNN November 07, 2023 05:42 UTC