Shares of the coworking company have plummeted and it would file for Chapter 11 of the United States bankruptcy law, according to The Wall Street Journal.
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With information from Bloomberg, El País and The Wall Street Journal
Four years ago, the firm WeWork It was worth US$47 billion and established itself as one of the emerging companies with the best projection; However, they will now declare bankruptcy, according to information from The Wall Street Journal.
This company—which opted for the flexible workspace or coworking market— It would have incurred losses even with its high price, and despite the changes in its direction, they did not find a way to stay afloat.
Although WeWork representatives consider that what is said in the specialized media “is mere speculation,” its shares have fallen on Wall Street to thresholds of US$1.30. So far this year, its value has deteriorated by approximately 96%.
The eventual declaration of bankruptcy —which implies filing for Chapter 11 of the bankruptcy law in the United States— It would occur after the setbacks generated by its failure to go public in 2019. This firm has the backing of SoftBank, but with its arrival on Wall Street in 2021, its valuation has not performed as expected.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
