WeWork, the shared office firm that was once valued at $47bn (£38bn), has been forced to file for bankruptcy in the US.
The decision follows the meteoric rise – and fall – of a company which was once seen as the future of the workplace.
WeWork’s filing will give it protection from its creditors and landlords as it restructures its vast debts.
WeWork’s filing will give it protection from its creditors and landlords as it restructures its vast debts.
The bankruptcy will affect the company’s business in the US and Canada. The firm said its co-working spaces remained open and operational, including in the UK.
In an email to tenants in London seen by the BBC, the firm said it remained “fully committed” to providing its services and planned to remain “in the vast majority of our buildings”.
“We are committed to communicating with members first and early should we foresee potential changes,” it added.
The BBC recently reported that WeWork was shuttering at least one office on the capital’s South Bank as it grapples with its finances.
On Tuesday, one tenant in the UK told the BBC it was “certainly considering our options and looking at other co-working spaces”.
WeWork, the shared office firm that was once valued at $47bn (£38bn), has been forced to file for bankruptcy in the US.
WeWork’s filing will give it protection from its creditors and landlords as it restructures its vast debts.
The decision follows the meteoric rise – and fall – of a company which was once seen as the future of the workplace.
The bankruptcy will affect the company’s business in the US and Canada. The firm said its co-working spaces remained open and operational, including in the UK.
WeWork’s filing will give it protection from its creditors and landlords as it restructures its vast debts.
WeWork’s filing will give it protection from its creditors and landlords as it restructures its vast debts.
The bankruptcy will affect the company’s business in the US and Canada. The firm said its co-working spaces remained open and operational, including in the UK.
In an email to tenants in London seen by the BBC, the firm said it remained “fully committed” to providing its services and planned to remain “in the vast majority of our buildings”.
“We are committed to communicating with members first and early should we foresee potential changes,” it added.
The BBC recently reported that WeWork was shuttering at least one office on the capital’s South Bank as it grapples with its finances.
On Tuesday, one tenant in the UK told the BBC it was “certainly considering our options and looking at other co-working spaces”.
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