“WeWork, the once-buzzy startup that was valued at $47 billion at its peak, filed for Chapter 11 bankruptcy protection on Monday in federal court in New Jersey.
“In its bankruptcy petition, the company listed about $15 billion in assets and more than $18 billion in debt. It also has around $100 million in unpaid rent.
“The company said 92% of its lenders agreed to a restructuring plan that would allow WeWork to operate during the reorganization, with many dozens of locations expected to close.”
Read more at NPR
