Trading in WeWork shares halted amid reports of possible bankruptcy filing
The news comes after reports suggested that the co-working space provider would file for bankruptcy as soon as this week. Shares tumbled by about 66% last week and have now shed about 99% of their value this year.
Citing people familiar with the matter, the Wall Street Journal first reported that WeWork -- the flexible office space venture founded by Adam Neumann and backed by SoftBank that was once valued at $47 billion -- was considering filing for bankruptcy in New Jersey. Reuters also reported the story, citing an unnamed source.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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