WeWork Creditors Demand Company Negotiate with Potential Buyers
- Company accused of ignoring bid by co-founder Adam Neumann
- Squabbling among top lenders allegedly delays bankruptcy-exit
A WeWork co-working office space in New York.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
Coworking giant WeWork Inc. should be forced to negotiate with potential buyers, possibly including co-founder Adam Neumann, as well as given a 30-day deadline to come up with a plan to exit bankruptcy, a panel of lower-ranking creditors said in a court filing.
Squabbling among company managers, senior lenders and longtime backer SoftBank Group Corp. has stalled the revitalization of WeWork and its various units, lawyers for an official committee of unsecured creditors told the judge overseeing the company’s Chapter 11 bankruptcy.