WeWork's Creditors Are Fighting Over Control of the Restructured Company
- Creditors seek control of company via second reorganization
- WeWork may file for bankruptcy protection as soon as November
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WeWork Inc. and its creditors are locked in discussions over who will take the keys to the struggling co-working firm as the end of a debt grace period approaches, according to people with knowledge of the matter.
WeWork’s top backers including SoftBank Group Corp. and bondholders including King Street Capital Management are each seeking to take control of the company via a new restructuring after pouring money into the firm, said the people, who asked not to be identified because the discussions are private. BlackRock Inc. and Brigade Capital Management are also part of the negotiations, separate people familiar with the matter said.