As soon as valued at $47 billion, coworking-space supplier WeWork nears chapter

A man wearing a bicycle helmet walks out of a building that has a WeWork logo on its front.

Enlarge (credit score: Getty Photos | Justin Sullivan)

WeWork inventory fell about 50 % as we speak because the enterprise as soon as valued at $47 billion reportedly plans to file for chapter.

WeWork was based in 2010 and supplies coworking areas in workplace buildings as a substitute for conventional places of work and work-from-home preparations. WeWork gained some high-profile clients like IBM and Microsoft however has persistently misplaced cash. WeWork’s web losses have been getting smaller however are nonetheless substantial: A web lack of $2.three billion in 2022 was adopted by a lack of $696 million within the first six months of 2023.

“WeWork is planning to file for chapter as early as subsequent week,” The Wall Road Journal reported yesterday, citing folks acquainted with the matter.

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