Topline WeWork, which provides coworking spaces, filed for Chapter 11 bankruptcy on Monday, capping off a dramatic collapse for a company once valued at $47 billion. Signage for shared office giant WeWork is seen outside a building in Seoul.AFP via Getty Images Key Facts In a press release, WeWork said 92% of its secured debt holders had agreed to its restructuring plan that will wipe out around $3 billion of debt. As part of the reorganization, the company will cut down on its commercial office leases. In its filing with the New Jersey bankruptcy court, WeWork disclosed it holds around $15 billion in assets and $18.6 billion in debts. The company’s filing also showed it owes around $100 million in leas… Click below to read the full story from Forbes
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WeWork Files For Chapter 11 Bankruptcy
