In a filing Tuesday, the company said it has been holding discussions with creditors about “improving its balance sheet” and taking steps to “rationalize its real estate footprint.” On Monday, the company entered into a forbearance agreement with its creditors that will end in seven days.
WeWork Inc. plans to file for bankruptcy as early as next week, the Wall Street Journal reported Tuesday.
The company had one of the most dramatic trajectories of the last startup boom — reaching a valuation of US$47 billion before a disastrous attempt at an initial public offering and challenges to its co-working model during the pandemic.
