WeWork’s Multibillion Rescue Couldn’t Save It From Office Bust
- Coworking firm, once worth $47 billion, set to file bankruptcy
- Costly leases proved too much even after securing debt relief
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When WeWork Inc. announced a multibillion-dollar rescue package earlier this year, the company’s management hailed it as a fresh start for the long-struggling global network of shared office spaces.
The deal would cancel burdensome interest payments, provide funding for years to come and support a revamped plan for profitability, they said at the time.