The WeWork soap opera’s latest episode includes filing for bankruptcy
by Jess Weatherbed from The Verge - All Posts on (#6G5ZK)
Illustration by Alex Castro / The Verge Co-working office space provider WeWork has filed for bankruptcy covering its locations in the US and Canada, and in a filing, it said it had liabilities of between $10 and $50 billion.
It's the latest turn for a company that went from being valued at $47 billion in January 2019 to unsuccessfully attempting an IPO later that year.
Investors were unimpressed with a company that counted its founder and CEO, Adam Neumann, as a significant risk factor. Its fall was eventually captured in both a documentary for Hulu, WeWork: Or the Making and Breaking of a $47 Billion Unicorn, and the podcast-turned-TV show for Apple TV, WeCrashed.
As Elizabeth Lopatto described its IPO paperwork:
That paperwork revealed, all in one place, the following...