Descrease article font size Increase article font size WeWork said CEO David Tolley will step down after the flexible workspace provider emerges from bankruptcy later on Tuesday, bookending a months-long global restructuring process that featured a strategy revamp and exits from several locations. The company will also name a new top boss later in the … Read more
WeWork is set to become a smaller—and potentially rightsized—company. Following a final hearing on its bankruptcy plan Thursday morning, the coworking pioneer will have fewer locations, a new influx of capital, and $4 billion in debt wiped from its books. In a packed courtroom in Newark, New Jersey, Judge John Sherwood approved WeWork’s restructuring plan. … Read more
The white colonial revival church with its high steeple adds an idyllic architectural touch to the affluent town of Huntington, a Long Island suburb of New York City. But a sign grabs the eye from the road: “Coworking space,” it says. “Kind of like a WeWork. Was a church, but not anymore.” The former church … Read more
Adam Neumann’s bid to buy back WeWork essentially ended this week. A bankruptcy court on Monday approved a deal that gets WeWork out of debt. It could conclude its restructuring and leave bankruptcy by late May following a vote on the deal, thanks to $450 million in financing provided largely by WeWork creditor and real … Read more
NEW YORK (AP) — WeWork has filed for Chapter 11 bankruptcy protection, marking a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world. In a late Monday announcement, WeWork said it entered into a restructuring support agreement … Read more
