Office-sharing giant WeWork is planning to file for bankruptcy as soon as next week, according to reports. A spokesperson for the company declined to speak about “speculation” when contacted by The Wall Street Journal, which first reported the claim. The business, which was once heralded as the future of the office and valued at one point at $47 billion, has suffered numerous struggles in recent years including the rise of remote work brought on by the COVID pandemic and a bungled initial public offering in 2019—the same year WeWork’s co-founder, Adam Neumann, resigned as CEO. WeWork’s stock plummeted on Wednesday in the wake of the reports, falling by almost 50 percent at the time of writing.
