A sign for WeWork is displayed at their office in the borough of Manhattan in New York, Aug. 9, 2023. Trading in shares of WeWork were halted Monday as rumors that the office sharing company will seek bankruptcy protection. (AP …has filed for Chapter 11 bankruptcy protection, a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world.
“Now is the time for us to pull the future forward by aggressively addressing our legacy leases and dramatically improving our balance sheet,”CEO David Tolley said in a prepared statement. “We defined a new category of working, and these steps will enable us to remain the global leader in flexible work.”for some time. In August, the New York company sounded the alarm over its ability to remain in business.
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