Four years ago WeWork was preparing for a blockbuster IPO. Now the company is warning of possible bankruptcy. Read more from jordannovet here:
WeWork said in a filing Tuesday that there's doubt about the company's ability to keep operating as a "going concern."Membership has been weaker than expected, which the company attributed in part to a struggling economy.29 July 2023, Australia, Sydney: The logo of "Wework," a company that offers office space and coworking spaces for the self-employed and businesses, lights up downtown in front of skyscrapers.was preparing for a blockbuster IPO.
has been years in the making, but is still surprising given the number of large commercial buildings around the world that don the company's name. The combination of the Covid pandemic, which led many businesses to exit their leases in favor of remote work, and the subsequent economic slump, has left WeWork heavy on debt and struggling to generate cash.
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