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November 8, 2023

WeWork seeks bankruptcy protection in stunning fall for a firm once valued at $47B

By WYATTE GRANTHAM-PHILIPS
AP Business Writer

NEW YORK — WeWork has filed for Chapter 11 bankruptcy protection, marking 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.

In a late Monday announcement, WeWork said it entered into a restructuring support agreement with the majority of its stakeholders to slash the company's debt while further evaluating WeWork's commercial office lease portfolio.


 
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