Office-sharing company WeWork filed for Chapter 11 bankruptcy protection in federal court Monday.
Valued in 2019 at $47 billion in a round led by Masayoshi Son's SoftBank, the company tried and failed to go public five years ago.The company reported liabilities ranging from $10 billion to $50 billion, according to a bankruptcy filing.
WeWork has suffered one of the most spectacular corporate collapses in recent U.S. history over the past few years. Valued in 2019 at $47 billion in a round led by Masayoshi Son's SoftBank, the company tried and failed to go public five years ago. The pandemic caused further pain as many companies abruptly ended their leases, and the economic slump that followed led even more clients to close their doors.a 1-for-40 reverse stock split to get its shares trading back above $1, a requirement for keeping its New York Stock Exchange listing.
Captain found criminally negligent in deaths of 34 people killed in fire aboard charter boat Conception in 2019 WeWork shares had fallen to a low of about 10 cents and were trading at about 83 cents before the stock was halted Monday."It has been challenging for me to watch from the sidelines since 2019 as WeWork has failed to take advantage of a product that is more relevant today than ever before," Neumann said in a statement to CNBC."I believe that, with the right strategy and team, a reorganization will enable WeWork to emerge successfully.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
WeWork, once valued at $47 billion, files for bankruptcyOffice-sharing company WeWork filed for Chapter 11 bankruptcy protection in federal court Monday.
Weiterlesen »
Trading in WeWork halted as rumors swirl about the ability of the office sharing company to go onTrading in shares of WeWork has been halted as rumors swirl that the office sharing company, once valued as high as $47 billion, will seek bankruptcy protection.
Weiterlesen »
Trading in WeWork halted as rumors swirl about the ability of the office sharing company to go onTrading in shares of WeWork has been halted as rumors swirl that the office sharing company, once valued as high as $47 billion, will seek bankruptcy protection.
Weiterlesen »
WeWork’s multibillion-dollar rescue couldn’t save it from office bustWeWork hailed a multibillion-dollar rescue package announced earlier this year as a fresh start. Now it's on the verge of filing for bankruptcy.
Weiterlesen »
Trading in WeWork halted as rumors swirl about the ability of the office sharing company to go onTrading in shares of WeWork has been halted as rumors swirl that the office sharing company, once valued as high as $47 billion, will seek bankruptcy protection. The specter of bankruptcy has hovered over WeWork for some time.
Weiterlesen »
WWII Museum’s new Liberation Pavilion a must-see for everyone, not just AmericansThe National World War II Museum in New Orleans unveiling its new, $47 million exhibit this weekend.
Weiterlesen »