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Will WeWork file for bankruptcy protection before 1 January 2025?
WeWork (officially "The We Company") is an American commercial real estate company that provides shared workspaces for technology startups, and services for other enterprises. Founded in 2010, it is headquartered in New York City. As of 2018, WeWork manages 46.63 million square feet of commercial real estate.
In 2019, WeWork attempted to go public in an IPO, seeking a valuation as high as $47 billion. However, concerns about corporate governance and the company's $47 billion in lease obligations led to a dramatic reduction in the company's proposed IPO valuation, which fell to as low as $10 billion. Additionally, the CEO of the company resigned at the request of existing investors. Ultimately, the company filed to withdraw its IPO prospectus.
The company remains unprofitable, and had losses of nearly $2 billion in 2018.
This question asks: Will The We Company, or any parent company thereof, file for either Chapter 7 or Chapter 11 bankruptcy protection in the United States prior to 1 January 2025?
Resolution is by citation of a relevant court filing or credible media reports in the financial press. The applicable filing need not lead to a grant or ruling by any court or regulatory body; it must only be submitted in order for a positive resolution.
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