Office-sharing company WeWork filed for Chapter 11 bankruptcy protection in New Jersey federal court Monday, saying that it had entered into agreements with the vast majority of its secured note holders and that it intended to trim “non-operational” leases.
The bankruptcy filing is limited to WeWork’s locations in the U.S. and Canada, the company said in a press release. WeWork reported total debts of $18.65 billion against total assets of $15.06 billion in an initial filing.
Here’s a timeline of the company’s journey from a space in SoHo, to Nov. 6, 2023.
The co-founder and near destroyer of WeWork took a break from frolicking on the mountains of cash he received to go away to share his opinions.
“It has been challenging for me to watch from the sidelines since 2019 as WeWork has failed to take advantage of a product that is more relevant today than ever before,” Neumann said in a statement to CNBC. “I believe that, with the right strategy and team, a reorganization will enable WeWork to emerge successfully.”
Naturally the neighborhood brick thrower is disappointed to that people haven’t replaced the windows he tossed bricks through.
People who post off-topic comments would fire an employee if their spouse didn’t like the employee’s vibes.