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The Latest Breaking News from WeWork

The Fed watcher who called the 2007 housing bubble expects interest rates to stay high for ‘much, much, much longer.’ It’s payback for the unsustainable ‘free money era’

Jim Grant of Grant's Interest Rate Observer believes it will take years to undo the kinks from a decade of ultra-low interest rates.

Fortune

Blackstone plans to double-down on its Europe real estate investments—but in London, it already has an upper-hand as WeWork locations have fallen

The private equity group, which recently hit $1 trillion in assets under management, has a number of flexible office spaces in London through The Office Group.

Fortune

WeWork approached physical space as if it were virtual, which led to the company's downfall

On Nov. 6, the co-working firm WeWork filed for bankruptcy. WeWork, founded by Adam Neumann and Miguel McKelvey in 2010, had a simple business model: it signed long-term leases on urban buildings, fitting them out with modern work facilities. Then, it rented out desks, offices and meeting rooms to companies…

The Conversation

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3 At-Risk Retail Stocks That Could Follow in WeWork's Footsteps

WeWork just filed for bankruptcy as it continued to post massive losses. Will these three loss-making retail stocks also go under?

Barchart

Japan's SoftBank hit with $6.2B quarterly loss as WeWork, other tech investments go sour

Japanese technology company SoftBank Group has reported it racked up a huge loss in the July-September quarter, as some of its investments soured

The Independent UK

SoftBank paid WeWork lenders almost $1.5bn before bankruptcy filing

Court papers reveal Japanese conglomerate transferred money less than a week before office rental group filed for bankruptcy

The Guardian - US

A former Blackstone exec wants to salvage WeWork from bankruptcy

The company has renegotiated more than 500 of its leases, and is working on doing so with another 400.

Fortune

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Adam Neumann fires subtle shots at his WeWork successors

Adam Neumann, the billionaire founder of WeWork, said the company "has failed to take advantage of a product that is more relevant today than ever before" since he left.

Fortune

WeWork’s $18 billion bankruptcy is the last thing the reeling commercial real-estate sector needed

Offices now face “a potential new wave of unexpected vacancies,” Moody’s wrote. WeWork’s first move was to dump 70 leases—35 of them in New York.

Fortune

Are WeWork closing London offices? Bankruptcy fallout explained

The sharing office firm has filed for bankruptcy in the US

Evening Standard

Who is Adam Neumann? The story of the eccentric billionaire WeWork founder who quit before it went bankrupt

A penchant for private jets and talk of marijuana – amid a dream to become president of the world – made Neumann stand out

Evening Standard

What WeWork filing for bankruptcy in the US means for London's office market

WeWork says London is and always will be, one of the firm's most important markets

Evening Standard

WeWork seeks bankruptcy protection in stunning fall for a firm once valued at close to $50B

WeWork, which has locations in Chicago, is also requesting the “ability to reject the leases of certain locations” that the company says are largely non-operational, as part of the filing.

Chicago Sun-Times

10,000 Dead

Plus: Trump's asset valuation expertise, surfer COVID rage, Adam Neumann's flop, and more…

Reason

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TechRadar

WeWork forced to file for bankruptcy in the US

WeWork in the US and Canada is asking for bankruptcy protection, hinting that previous poor decisions are to blame.

The Guardian - UK

First Thing: One month of violence and war in Israel and Gaza

As Israel marks one month since the Hamas attack that killed 1,400, the Israeli PM rules out a general ceasefire and looks toward the future of Gaza. Plus: online disinformation and climate reparations

The Independent UK

WeWork files for bankruptcy in the US

WeWork has more than 770 sites around the world, including nearly 50 in the UK and Ireland.

France 24

Co-working firm WeWork files for bankruptcy in US amid office real estate downturn

WeWork, the desk renting company co-founded by Adam Neumann, has filed for bankruptcy in order to deal with its $13 billion in outstanding lease obligations. The group, which was once valued at $47 billion, saw its meteoric rise thwarted in 2019 when its heavy losses were exposed and during the…

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Evening Standard

Regus owner IWG to swoop for office bargains after WeWork bankruptcy

A British rival to WeWork today said it was eyeing the bankrupt business’s portfolio for acquisition opportunities after it posted a boost in sales.

Evening Standard

WeWork goes bankrupt in battle to bear down on debts

Office-sharing company WeWork has filed for bankruptcy in the US as it struggles to pay off billions of dollars of debt.

The Independent UK

WeWork seeks bankruptcy protection, a stunning fall for a firm once valued at close to $50 billion

WeWork has filed for Chapter 11 bankruptcy protection, a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world

The Independent UK

WeWork files for bankruptcy after failing to recover from Covid-19 losses

Company that provides shared working spaces has been struggling with huge debts and losses incurred during the pandemic

WEKU

WeWork files for bankruptcy in a stunning downfall from its $47 billion heyday

With its flexible office spaces, WeWork once was seen as a Silicon Valley darling led by an eccentric and charismatic founder. Financial troubled intervened, followed by the pandemic.

The Guardian - US

The dizzying rise, and even more vertiginous fall, of WeWork

Company sought to present itself at the heart of myriad utopian ideals, in pursuit of ‘mission’ to ‘elevate the world’s consciousness’

The Guardian - US

WeWork, once a $47bn firm, files for bankruptcy after accruing $2.9bn debt

Company never recovered from 2019 ouster of founder Adam Neumann and remote work revolution

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