
WeWork Planning to File for Bankruptcy Next Week, WE Shares Decline by Around 50%
After all the challenges WeWork has faced, the news about its going bankrupt does not seem surprising. The company did not comment on the announcement yet.
After all the challenges WeWork has faced, the news about its going bankrupt does not seem surprising. The company did not comment on the announcement yet.
The cancellation of the WeWork IPO by the We company is expected. The big question is: will WeWork survive this? Apparently, too many bad management decisions have a lot to do with the problems that Wework finds itself in.
It seems that We Company and its main business WeWork are having troubles with their main financier Softbank who is pushing for the company to put its troubled IPO on hold.
WeWork has decided to revise downwards its initial valuation to $20 billion. How it intends to go through with the IPO remains unknown. Investors have already indicated skittishness following potential conflicts of interests on the part of the CEO.