WeWork will file for bankruptcy, with a valuation of $47 billion

According to foreign media reports on November 1st, WeWork, a shared office enterprise headquartered in New York, plans to file for bankruptcy as early as next week. This company, supported by Japanese Softbank, was once valued at $47 billion

According to foreign media reports on November 1st, WeWork, a shared office enterprise headquartered in New York, plans to file for bankruptcy as early as next week. This company, supported by Japanese Softbank, was once valued at $47 billion.

According to insiders, WeWork is considering filing for bankruptcy under Chapter 11 of the Bankruptcy Code in New Jersey. Earlier, there were reports that WeWork was facing huge debts and losses. The latest news indicates that the company has been in negotiations with creditors on "optimizing its balance sheet" and taking measures to "streamline its real estate scale". Subsequently, the company reached a seven day deferred payment agreement with its creditors.

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