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WeWork declares bankruptcy, signs deal with creditors

Posted on AllSides November 7th, 2023
From The Left

(Bloomberg) — WeWork Inc. filed for bankruptcy, capping a tumultuous period that saw the once high-flying startup navigate a failed initial public offering, Covid-19 lockdowns, a blank-check merger and slow return-to-office trends. The company — which at its 2019 peak commanded a $47 billion valuation — listed $19 billion of liabilities and $15 billion of assets in its bankruptcy petition in New Jersey on Monday. The Chapter 11 filing allows WeWork to continue operating while working out creditor repayment terms. WeWork entered bankruptcy after reaching a tentative restructuring deal with...

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