According to insiders, WeWork plans to file for bankruptcy as early as next week, marking a shocking reversal for the flexible office space company, which was once valued at $47 billion.
The person familiar with the matter stated that WeWork, headquartered in New York, is considering filing for bankruptcy protection in New Jersey.
WeWork failed to pay interest to bondholders on time on October 2nd, resulting in a 30 day grace period. Overdue will be considered a breach of contract. On Tuesday, the company stated that it had reached an agreement with bondholders to give the company seven more days to negotiate with stakeholders before triggering a default.
A WeWork spokesperson mentioned a securities announcement submitted earlier Tuesday, which stated that "the suspension agreement provides us with time to continue active dialogue with major financial stakeholders and work with them to implement our ongoing strategic efforts to enhance our capital structure

According to insiders, WeWork plans to file for bankruptcy as early as next week, marking a shocking reversal for the flexible office space company, which was once valued at $47 billion.
The person familiar with the matter stated that WeWork, headquartered in New York, is considering filing for bankruptcy protection in New Jersey.
WeWork failed to pay interest to bondholders on time on October 2nd, resulting in a 30 day grace period. Overdue will be considered a breach of contract. On Tuesday, the company stated that it had reached an agreement with bondholders to give the company seven more days to negotiate with stakeholders before triggering a default.
A WeWork spokesperson mentioned a securities announcement submitted earlier Tuesday, which stated that "the suspension agreement provides us with time to continue active dialogue with major financial stakeholders and work with them to implement our ongoing strategic efforts to enhance our capital structure